In reference to determining the optimal amount of advertising, managers of trade associations face each of following additional challenges except which one?
A) lack of free riders
B) the ability for a firm to benefit from advertising that they did not pay for
C) difference in the marginal benefits of advertising across firms
D) difficulty in prescribing a fair and practical way to share the cost of advertising across firms
A) lack of free riders
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Panel A shows a change in quantity demanded and Panel B shows a change in demand.
Indicate whether the statement is true or false.
In a labor market, employment
A) and the wage rate are higher when the market is a monopsony than when the market is competitive. B) is higher and the wage rate is lower when the market is a monopsony than when the market is competitive. C) is lower and the wage rate is higher when the market is a monopsony than when the market is competitive. D) and the wage rate are lower when the market is a monopsony than when the market is competitive.
Which of the following explains the changes in the U.S. adult male labor force participation rate since 1948?
A) Fewer men consider themselves discouraged workers as compared to the past. B) More men are joining the military as compared to the past. C) More men are retiring later in life as compared to the past. D) Younger men are remaining in school longer as compared to the past.
Which of the following is NOT a characteristic of firms in a monopolistically competitive market?
A. advertising B. ease of entry and exit C. existence of significant economies of scale D. differentiated products