Advertising
a. provides information about products, including prices and seller locations.
b. has been proven to increase competition and reduce prices compared to markets without advertising.
c. signals quality to consumers, because advertising is expensive.
d. All of the above are correct.
d
Economics
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Why do decision makers tend to ignore external costs? How can internalizing external costs move us closer to efficient levels of output?
Economics
Total expenditures on a company's product will be largest when it is priced such that the elasticity of demand:
A. equals -1. B. is greater than -1. C. is less than -1. D. equals 0.
Economics