Most of your friends prefer drinking Budweiser, Miller, or Coors beer. Budweiser is manufactured by Anheuser-Busch, while Miller and Coors are manufactured by MillerCoors. Based on this information, you conclude that the beer market is oligopolistic. Assuming each of the following statements is true, examine whether each one will independently support or weaken your conclusion.
i. Anheuser-Busch and MillerCoors are two of the many firms that operate in this market.
ii. Both MillerCoors and Anheuser-Busch increased the prices of beer when demand had actually fallen in 2009.
iii. Consumers are unlikely to switch between different brands of beer; most beer consumers are highly brand loyal.
iv. The fixed cost of setting up a brewery is relatively high.