There Were Three Important Changes to the Law Introduced by the Competition

question 22

Multiple Choice

There were three important changes to the law introduced by the Competition Policy Reform Act 1995 (Cth) .Which of the following is not one of them?

• A)It extended the scope of the Trade Practices Act 1974 (Cth) to all Australian businesses and professions.
• B)It merged the Trade Practices Commission and the Prices Surveillance Authority to form the Australian Competition and Consumer Commission.
• C)It established an access regime to allow third parties access to essential facilities.
• D)It set up the office of the Consumer Ombudsman.

---

Definitions:

Net Operating Income

A measure of a company's profitability, calculated as gross revenue minus operating expenses, not including taxes and interest.

Break-even

The point at which total costs equal total revenues, resulting in no net loss or gain for the business.

Monthly Unit Sales

The number of units of a product sold in a particular month.

Break-even Point

The financial state in which total revenues equal total expenses, and there is no profit or loss.