Peet's Coffee and Teas produces some flavorful varieties of Peet's brand coffee. Is Peet's a monopoly? O No, Peet's is not a monopoly because there are many branches of Peet's. O No, although Peet's coffee is a unique product, there are many different brands of coffee that are very close substitutes. Yes, there are no substitutes to Peet's coffee. O Yes, Peet's is the only supplier of Peet's coffee in a market where there are high barriers to entry.

Storm, Inc. manufactures bicycles. Storm currently manufactures the seats used on its bikes, but is considering whether to purchase the seats from an outside supplier. Which of the following factors are relevant to Storm's decision to make the seats in-house versus purchasing the seats from an outside supplier? ABCDE A. B. D. E. O Choice A O Choice B Ⓒ Choice C O Choice D O Choice E Fixed costs avoided if buy seats from supplier Yes Yes No No Yes Selling price Storm charges for its bikes Yes No Yes No No Per-unit purchase price if buy seats from supplier Yes Yes Yes No Yes Profitable use of freed-up capacity if buy seats from supplier Yes Yes No Yes No

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