Advertising for Milk and Beef is usually done by A) interest ...

[lracut11]

Advertising for Milk and Beef is usually done by
 
  A) interest groups that represent the whole industry.
  B) a single firm in the market.
  C) a small set of firms in a market.
  D) It is not done because it doesn't pay to advertise homogeneous products.

Question 2

If only one firm operates in a market, and a potential entrant is blockaded from entering the market, then the incumbent firm must
 
  A) have acted to prevent entry.
  B) be pricing where price equals marginal cost.
  C) be a natural monopoly.
  D) be the Stackelberg leader.

[tranoy]

Answer to Question 1

A

Answer to Question 2

C