When firms in a monopolistically competitive market engage in price-related advertising, defenders of advertising argue that
a. the quality of products sold in the market always increases.
b. customers are less likely to be informed about other characteristics of the product.
c. new firms are discouraged from entering the market.
d. each firm has less market power.
d
Economics
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When firms benefit from the results of research and development they didn't pay for, we say firms
A) maintain a level playing field. B) free ride. C) are litigious. D) invest in knowledge capital.
Economics
Assume the average annual CPI values for 2015 and 2016 were 207.3 and 215.3, respectively. What was the percent increase in the CPI between these two years?
A) 3.86 B) 0.96 C) 8.0 D) 1.04
Economics