Elements of Competition and Industrial Policy

There are three main elements of industrial policy:
- competition policy
- policy toward nationalised industries (including privatisation)
- regional policy

There are also three main elements to competition policy:
- monopoly policy
- merger policy
- trading restrictive practice policy

Regulation in Markets

Imperial Tobacco fined £112m and Co-op and Asda were penalised by £14m each

http://www.guardian.co.uk/business/2010/apr/16/oft-levies-225m-for-cigarette-price-manipulation

• How does price fixing affect consumer surplus and producer surplus?
• Does fining firms for such exploitation stop them for doing the same thing again?