The reason why firms in perfect competition do not advertise is because
a. their demand curves are all downward sloping and if they sell more it would have to be at a lower price
b. they differentiate themselves, as with milk
c. they are typically small in size and cannot produce for a wider market
d. there is no entry into the industry
e. there is no product differentiation among the goods produced
E
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What will be an ideal response?
In the money and credit expansion process, the total change in checkable deposits is equal to the initial change in excess reserves _____
a. multiplied by the required reserve ratio b. plus the change in required reserves c. divided by the reciprocal of the required reserve ratio d. multiplied by the reciprocal of the required reserve ratio e. divided by the change in required reserves