Which of the following is FALSE with respect to brand names and advertising?
A) Because "differentness" has value to customers, monopolistically competitive firms regard their brand names as valuable.
B) Firms use trademarks—words, symbols, and logos—to distinguish their product brands.
C) Companies do not regard their brands as valuable private (intellectual) property because the value cannot be quantified.
D) There is considerable shifting over time in the market value rankings of various U.S. product brands.
Answer: C
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Use the following graphs to answer the next question.
In the diagrams, AD1 and AS1 are the "before" curves. Assuming Q1 is full-employment output, an expansion is depicted by ________.
A. panel (A) only B. panel (B) only C. panel (C) only D. panels (A) and (B)
Explain whether the statement, "Hillary Clinton was elected President of the United States in 2012," is a normative or positive statement
What will be an ideal response?
Refer to Table 2-5. Assume Nadia's Neckware only produces ascots and bowties. A combination of 8 ascots and 18 bowties would appear
A) along Nadia's production possibilities frontier. B) inside Nadia's production possibilities frontier. C) outside Nadia's production possibilities frontier. D) at the horizontal intercept of Nadia's production possibilities frontier.
The difference between absolute and comparative advantage is that:
a. absolute advantage refers to input cost, while comparative advantage refers to opportunity cost. b. absolute advantage refers to opportunity cost, while comparative advantage refers to input cost. c. absolute advantage is applicable only to individuals, and comparative advantage is applicable only to countries. d. absolute advantage is applicable only to countries, and comparative advantage is applicable only to individuals. e. absolute advantage is applicable to international trade, while comparative advantage applies to exchange of goods in the domestic market.