The main objective of advertising for a monopolistically competitive firm is
A. to differentiate the product and raise sales.
B. to reduce cost.
C. to comply with government requirements on product information.
D. to earn long run profits.
Answer: A
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What are the different modes of payments that employers use?
The law of demand
A) was passed by the 102nd U.S. Congress. B) is a natural law, much like the law of gravity. C) is considered a "law" in economics because of the overwhelming empirical evidence that supports its logic. D) is considered a "law" in economics in order to force economic models to operate fully.
If a monopolist is able to practice perfect price discrimination, there will be no consumer surplus.
Answer the following statement true (T) or false (F)
The reduction of the inflation rate is called
A. unflation. B. disinflation. C. deflation. D. reflation.