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Author Question: During certain periods in the past few decades, if one of the three major breakfast cereal producers ... (Read 62 times)

genevieve1028

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on: Jun 30, 2018
During certain periods in the past few decades, if one of the three major breakfast cereal producers in the United States announced a price increase, the other two announced a similar price increase. This is a good example of
 a. monopolistic competition
  b. a cartel
  c. a pure monopoly
  d. the kinked demand curve model of oligopoly
  e. the price leadership model of oligopoly

Question 2

According to William Niskanen, bureaucrats seek to
 a. maximize profits
  b. maximize tax revenues
  c. maximize budgets
  d. minimize variable costs
  e. minimize total costs


ecabral0

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

E

Answer to Question 2

C


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