Which of the following is a commonly-cited benefit of advertising?
a. Advertising can be a signal of the quality of a product.
b. Advertising impedes competition.
c. Advertising reduces the deadweight loss associated with monopolistic competition.
d. Advertising encourages free entry, which increases profits.
a
Economics
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In the figure above, a decrease in the price of a bag of potato chips would result in the budget line
A) making a parallel shift toward point a. B) making a parallel shift toward point c. C) becoming flatter. D) becoming steeper.
Economics
Rational ignorance says that voters will
A) understand the technology before voting on defense. B) vote on issues without having complete information. C) gather information on issues that are not important. D) not vote on issues that they do not understand.
Economics