Studies suggest that brand loyalty is based primarily on real differences among competing products, suggesting that persuasive advertising is an ineffective means to maintain or increase market share

Income taxes create a wedge between the wage rate paid by ________ and received by workers and thereby ________ employment and ________ potential GDP

A) firms; raise; decrease B) households; lower; decrease C) firms; lower; decrease D) firms; lower; increase E) firms; raise; increase

Which of the following is not a characteristic of long-run equilibrium in a monopolistically competitive market?

A) Production is at minimum average total cost. B) Marginal revenue equals marginal cost. C) Selling price equals average total cost. D) Selling price is greater than marginal cost.