Question: Urgent! 3. Indicate whether each statement below is true or false, and give a brief explanation for your answer. (d) Contestability is a theory that

Urgent!

Urgent! 3. Indicate whether each statement below is true or false, and

3. Indicate whether each statement below is true or false, and give a brief explanation for your answer. (d) Contestability is a theory that has a good empirical basis, so large companies in concentrated markets are probably quite constrained in their pricing and should rarely be a concern for competition policy. [5 marks] (e) A merger between two firms in a Cournot industry is generally unprofitable for the firms involved. [5 marks]

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