Business, 13.12.2019 19:31, rqg001e

Which of the following statements is true:

a. advertising is an important aspect of monopolistic competition and oligopoly because there is product homogeneity in these industries. there are significant substitution possibilities in these
industries. price changes are not allowed. brand distinction encourages customer loyalty, which increases profits.
b. advertising promotes efficiency and benefits consumers by providing information about new products, reducing the number of firms in the industry, and raising average revenue.
c. providing information about new products, increasing sales and output, and lowering average total cost.
d. consumers determine their preferences and limiting the number of products firms have to produce.
e. consumers determine their preferences and increasing the number of products firms have to produce.

Answers: 1

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Which of the following statements is true:

a. advertising is an important aspect of mon...