Describe the Scope and Powers of the Competition Tribunal to Enforce

question 14

Essay

Describe the scope and powers of the Competition Tribunal to enforce the provisions of the Competition Act.

---

Definitions:

Marginal Revenue Product

The additional revenue generated from employing one more unit of a resource.

Profit-maximizing

The process of adjusting production and sales to achieve the highest possible profit.

Market Wage

The prevailing rate of pay for a specific job in a particular labor market.

Productivity

An indicator of how effectively resources are used in production, typically expressed as the proportion of produced goods to the resources consumed.