The automobile, breakfast cereal, and tobacco industries are ...

[big1devin]

The automobile, breakfast cereal, and tobacco industries are examples of
 a. monopolistic competition
  b. oligopoly
  c. perfect competition
  d. monopoly
  e. monopsony

Question 2

If a market is initially operating competitively and then the government imposes a price floor above the equilibrium price,
 a. there will be more resources will be devoted to the production of this product
  b. quantity demanded will rise
  c. producer surplus will fall in the short run
  d. imposition of the floor is probably a positive-sum game
  e. consumer surplus will fall

[momolu]

Answer to Question 1

B

Answer to Question 2

E

[big1devin]

Thanks for the timely response, appreciate it

[jordangronback]

Excellent