Match the description provided in the bank of options with the appropriate concept in the second tabl Bank of options Consumers agree X is prefered to Y when both have equal prices Consumer preferences are changed Consumers obtain more information about product characteristics Consumers are targeted with advertising Characteristic that is consumed as complementary to product itself One time cost to enter an industry changes when the market size increases A firm that is a leader obtains a higher profit in a dynamic game One time cost to enter an industry is treated as a parameter of model A firm that is a follower obtains a higher profit in a dynamic game Consumers do not agree X is prefered to Y when both have equal prices Letter A В D E F G H I J Induatmu mith not oomm ot ition hene oteniatie
Match the description provided in the bank of options with the appropriate concept in the second tabl Bank of options Consumers agree X is prefered to Y when both have equal prices Consumer preferences are changed Consumers obtain more information about product characteristics Consumers are targeted with advertising Characteristic that is consumed as complementary to product itself One time cost to enter an industry changes when the market size increases A firm that is a leader obtains a higher profit in a dynamic game One time cost to enter an industry is treated as a parameter of model A firm that is a follower obtains a higher profit in a dynamic game Consumers do not agree X is prefered to Y when both have equal prices Letter A В D E F G H I J Induatmu mith not oomm ot ition hene oteniatie
Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter23: Price-searcher Markets With Low Entry Barriers
Section: Chapter Questions
Problem 17CQ
Related questions
Question
![15. Match the description provided in the bank of options with the appropriate concept in the second table.
Bank of options
Letter
A
Consumers agree X is prefered to Y when both have equal prices
Consumer preferences are changed
Consumers obtain more information about product characteristics
Consumers are targeted with advertising
Characteristic that is consumed as complementary to product itself
One time cost to enter an industry changes when the market size increases
A firm that is a leader obtains a higher profit in a dynamic game
One time cost to enter an industry is treated as a parameter of model
A firm that is a follower obtains a higher profit in a dynamic game
Consumers do not agree X is prefered to Y when both have equal prices
Industry with monopoly and perfect competition characteristics
An empirical model used to estimate product differentiation
В
C
E
F
G
H
I
J
K
Concept
Second mover advantage
First mover advantage
Vertical product differentiation
Horizontal product differentiation
Persuasive advertising
Logit model
Complementary advertising
Exogenous sunk cost
Monopolistic competition Industry
Endogenous sunk cost
Informative advertising
Write letter](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F26df40ab-87bd-48a7-b665-7a45f0ce31b9%2Ffaef15a9-2c1c-4193-b36b-87ee089368cc%2Fwxjzpe1_processed.png&w=3840&q=75)
Transcribed Image Text:15. Match the description provided in the bank of options with the appropriate concept in the second table.
Bank of options
Letter
A
Consumers agree X is prefered to Y when both have equal prices
Consumer preferences are changed
Consumers obtain more information about product characteristics
Consumers are targeted with advertising
Characteristic that is consumed as complementary to product itself
One time cost to enter an industry changes when the market size increases
A firm that is a leader obtains a higher profit in a dynamic game
One time cost to enter an industry is treated as a parameter of model
A firm that is a follower obtains a higher profit in a dynamic game
Consumers do not agree X is prefered to Y when both have equal prices
Industry with monopoly and perfect competition characteristics
An empirical model used to estimate product differentiation
В
C
E
F
G
H
I
J
K
Concept
Second mover advantage
First mover advantage
Vertical product differentiation
Horizontal product differentiation
Persuasive advertising
Logit model
Complementary advertising
Exogenous sunk cost
Monopolistic competition Industry
Endogenous sunk cost
Informative advertising
Write letter
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