Advertising is used by firms in a monopolistic competitive industry to
A) differentiate their product from those of competitors.
B) increase brand loyalty.
C) increase demands for their individual products.
D) all of the above.
D
Economics
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The cross elasticity of demand for pizza with respect to the price of a soda is
A) positive because the goods are complements. B) negative because the goods are complements. C) positive because the goods are substitutes. D) negative because the goods are substitutes.
Economics
What to produce in a market economy is ultimately determined by the:
A. income plans of households. B. output decisions of business firms. C. spending decisions of households. D. workers' technical skills.
Economics