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Author Question: The automobile, breakfast cereal, and tobacco industries are examples of a. monopolistic ... (Read 259 times)

big1devin

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on: Jun 30, 2018
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


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momolu

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Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

E


big1devin

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

aruss1303

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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