Which of the following is NOT a reason why some industries are oligopolies?

How many regional Federal Reserve Banks are there in the United States?

a) 8 b) 12 c) 16 d) 30

Refer to Figure 3-5. In a free market such as that depicted above, a surplus is eliminated by

A) a price decrease, decreasing the supply and increasing the demand. B) a price increase, increasing the quantity supplied and decreasing the quantity demanded. C) a price increase, increasing the supply and decreasing the demand. D) a price decrease, decreasing the quantity supplied and increasing the quantity demanded.