One reason that monopolistically competitive firms often use celebrity endorsements is that:
a. the firm owners like to be around celebrities so they can feel important.
b. they can link their product's reputation with the celebrity's reputation.
c. celebrity endorsements are comparatively inexpensive.
d. they can have the celebrity as their potential customer.
e. firms like to spend a lot on advertisements.
b
Economics
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Prohibiting the use of "dirty" fuels by industry is an example of
a. voluntarism. b. direct controls. c. taxes on emissions. d. none of the above.
Economics
Refer to the diagram for a pure monopolist. If a regulatory commission seeks to achieve the socially optimal allocation of resources to this line of production, it will set a price of:
A. P 1 .
B. P 3 .
C. P 2 .
D. P 4 .
Economics