Which industry or sector of the economy would least likely be affected by the business cycle?

Explain the issues involved with the Fed acting as a lender of Last Resort (LLR)

What will be an ideal response?

Economists believe that oligopolists like American Airlines and the Kellogg Company:

a. make price and output decisions without regard to what their competitors might do b. have no perceptible influence on the market price, but choose output where marginal revenue equals the marginal cost of production. c. carefully watch and anticipate the moves of their competitors. d. have no control over market but produce output to the point where demand equal marginal cost.