The market for breakfast cereals is dominated by a few large corporations. Each corporation produces a high volume of breakfast cereals and takes advantage of economies of scale to produce the breakfast cereals efficiently. This allows them to sell the products at a price that smaller firms cannot, because the smaller firms would not make a profit. What type of market structure is the market for breakfast cereals? A pure competition

B monopolistic competition

C oligopoly

D monopoly

Carey company is borrowing $225,000 for one year at 9.5 percent from second intrastate bank. the bank requires a 15 percent compensating balance. the principal refers to funds the firm can effectively utilize (amount borrowed − compensating balance). a. what is the effective rate of interest? (use a 360-day year. input your answer as a percent rounded to 2 decimal places.) b. what would the effective rate be if carey were required to make 12 equal monthly payments to retire the loan?