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Author Question: In a market characterized by many buyers and one seller, investment in informative advertising by a ... (Read 99 times)

lracut11

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on: Jun 30, 2018
In a market characterized by many buyers and one seller, investment in informative advertising by a seller can ____ the price of a commodity to customers and lower their _____ cost of acquiring information.
 a. decrease; sunk cost
  b. increase; transaction cost
  c. increase; sunk cost
  d. decrease; transaction cost

Question 2

In the monopolistic competition model, the attribute of free entry suggests that:
 a. all firms earn zero economic profits in the long run.
 b. some firms will be able to earn economic profits in the long run.
 c. some firms will be forced to incur economic losses in the long run.
 d. the market structure will eventually be characterized by perfect competition in the long run.


vkodali

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Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

a


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lracut11

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Reply #2 on: Jun 30, 2018
Correct answers!


vkodali

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Reply #3 on: Jun 30, 2018
Great! Please up vote :D


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