Why did old GM file for bankruptcy? How will the new GM overcome the problems of the old GM? In what type of market is each of the following goods and services sold? Explain your answers. •...

Why did old GM file for bankruptcy?

How will the new GM overcome the problems of the old GM?

In what type of market is each of the following goods and services sold?

Explain your answers.

• Breakfast cereals

• Cell phones

• The only restaurant in a small town

• Oranges

• Cable TV in a town with one cable company