Profit Maximizing Under Perfect Competition & Monopoly Mcqs

Q.  When one firm in the breakfast cereal market started an advertising campaign that stressed the nutritional value of its cereals, all other cereal manufacturers started similar advertising campaign This suggests that the breakfast cereal market is ?

a. monopolistically competitive
b. oligopolistic
c. perfectly competitive
d. indeterminate from this information


ANSWER: See Answer
 
No explanation is available for this question!
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