please answer both of the pictures and also please label which one is which. thank youuuu Which of the following statements about expenditures on advertising is true?O When a firm spends a small amount of money on advertising, this signals that the quality of the good is high.O When a firm spends a large amount of money on advertising, advertising can be construed as a signal of quality.O If a firm knows its product is of low quality, it will be willing to spend large amounts of money on advertising. An oligopolistic market structure is distinguished by several characteristics, one of which is either homogeneous or differentiated products. What aresome other characteristics of this market structure? Check all that apply.O Difficult entryO Neither mutual interdependence nor complete independenceMutual interdependenceMarket control by a few large firmsO Market control by many small firms

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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please answer both of the pictures and also please label which one is which. thank youuuu

Which of the following statements about expenditures on advertising is true?
O When a firm spends a small amount of money on advertising, this signals that the quality of the good is high.
O When a firm spends a large amount of money on advertising, advertising can be construed as a signal of quality.
O If a firm knows its product is of low quality, it will be willing to spend large amounts of money on advertising.

An oligopolistic market structure is distinguished by several characteristics, one of which is either homogeneous or differentiated products. What are
some other characteristics of this market structure? Check all that apply.
O Difficult entry
O Neither mutual interdependence nor complete independence
Mutual interdependence
Market control by a few large firms
O Market control by many small firms

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