Competition and the Firm

Competition and the Firm
With reference to the 2012 report of the UK Competition Commission (CC) investigation of Aggregates, Cement and Ready-Mix Concrete Market in the UK examine and explore the features that either alone or in combination, prevent, restrict or distort competition such that there are adverse effects on competition in this marketplace.
Please begin the essay with a short (max 600 words) theoretical account on the nature of competition in markets, market structure, market concentration, barriers to entry, uncompetitive practices, regulation issues and any other theoretical concepts that will inform your analysis.

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Familiarise yourself with the CC investigation’s core documents, found at: http://www.competition-commission.org.uk/our-work/directory-of-all-inquiries/aggregates-cement-ready-mix-concrete
and apply relevant theoretical concepts to the specifics of the concrete marketplace. Critically evaluate the extent to which there are adverse effects on competition through reference to relevant theory and the investigation’s own findings (1400-1900 words).

Reading:
Lipczynski J,Wilson J & Goddard J, 2013, Industrial Organisation, Prentice Hall
Griffiths, A & Wall, S, 2012, Applied Economics, Prentice Hall
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