1. Which of the following advertisements provides information to the consumer? a. “CarbChips have half the carbohydrates of regular potato chips”. b. “The Taj Mahal restaurant is like a trip to India”. c. “Brain-power Books – just think it!” d. “Avion Airlines wants to take you higher”.
I need help with number 1, 2, 3, 4
1. Which of the following advertisements provides information to the consumer?
a. “CarbChips have half the carbohydrates of regular potato chips”.
b. “The Taj Mahal restaurant is like a trip to India”.
c. “Brain-power Books – just think it!”
d. “Avion Airlines wants to take you higher”.
2. Firms in an Oligopoly produce a quantity of output that is less than the level produced by a
a. True
b. False
3. Which of the following is true of the model of
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a. |
Barriers to entry enable firms to enjoy positive profits in the long run. |
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b. |
The number of firms declines over time as a result of economies of scale. |
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c. |
The monopolistically competitive firms enjoy a greater market power than a monopolist. |
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d. |
Firms tend to locate near each other in order to minimize total travel costs for consumers. |
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e. |
The firms end up charging same prices for their individual products. |
4. Which of the following is an example of price competition?
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a. |
Nike signs LeBron James to a $90 million contract for endorsements. |
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b. |
Kellogg's puts the images of Snap, Crackle, and Pop on boxes of Cocoa Krispies, linking the cereal with Rice Krispies. |
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c. |
McDonald's introduces new garden McSalads. |
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d. |
Tropicana introduces the Blue Raspberry Rush juice. |
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e. |
Apple offers a 20% discount on its new range of iPhones. |
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