Question: The Hellenic Competition Commission (HCC) in a previous Decision (No. 418/V/2008) launched a sect…

01 May Question: The Hellenic Competition Commission (HCC) in a previous Decision (No. 418/V/2008) launched a sect…

Posted at 19:07h in 2Past Paper by Exams

The Hellenic Competition Commission (HCC) in a previous Decision (No. 418/V/2008) launched a sector inquiry into the oil industry in Greece (e.g refining, wholesaling and retailing market segment) and claimed among others that multinational oil companies (BP Hellas S.A and Shell Hellas S.A) supported their filling stations (branded retailers) when competitors temporarily reduced prices to increase sales, requiring that the discount was passed on to the consumer (“price support” discount scheme). (a) Give an overview of the decision adopted by the HCC focusing solely on the wholesale oil market segment. Briefly describe the two oil companies. IMark: 0.5] (b) Define the relevant product(s) and geographic market(s) for the wholesale oil market segment in Greece. What type of quantitative economic tools are the proper ones to correctly delineate the relevant markets in such a case? [Mark: 0.5] (c) What economic arguments dictated the abolishment of the “price support” discount scheme by the HCC? [Mark: 1.0] (d) Did the competent Ministry adopt this policy measure? Critically discuss what was the impact of the relevant decision to consumers over the period 2009-2018 (i.e evolution of retail prices, consumption and variety of the petroleum products offered by the wholesalers) and how did the oil industry change thereafter in terms of competition Comment on your findings [Mark: 1.5] Hint: This is an essay type question and students are free to express their views provided that they are well grounded on economic analysis ad are logically consistent. Students ar use official sources that can be found online on the Hellenic Competition Commission’s website and the answer should be at most two page answer should be at most two pages long.

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