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2.2 Rand manipulation involves specific firms that have violated the Competition Act of
South Africa.
Explain how these firms have violated the Act and the reason why these firms
manipulated the rand.
What measures were taken by the Competition Commission to address rand
manipulation and the outcome of the
investigation (penalties or fined imposed
).
(1



Answer :

GinnyAnswer

Final answer:

Firms choose anticompetitive practices to gain market power and maximize profits by reducing competition through collusion, price-fixing, and monopolization.


Explanation:

Anticompetitive practices are chosen by firms to gain market power and maximize profits by restricting output and inflating prices. These practices include collusion, price-fixing, and monopolization, all aimed at reducing competition in the market.


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