Which of the following is true about advertising?
a. If monopolistically competitive firms compete through advertising, and if advertising requires sunk-cost investment and creates brand loyalty, then advertising can be an effective entry cost.
b. Advertising may be the only way that a new entrant can penetrate a market dominated by long-established firms.
c. Advertising has no impact on entry costs or market structure.
d. Both answers a. and b. above are correct.
Question 2
A young chef is considering opening his own sushi bar. To do so, he would have to quit his current job, which pays 20,000 a year, and take over a store building that he owns and currently rents to his brother for 6,000 a year. His expenses at the sushi bar would be 50,000 . for food and 2,000 for gas and electricity. What are his implicit costs?
a. 26,000.
b. 66,000.
c. 78,000.
d. 52,000.
e. 72,000.
Territorial reef fish compete intensely for space.
Competitive inhibition
Adapoids and omomyoids had longer snouts and are the first “true” primates.
Competitive drug enzyme immunoassay.
Alcohol and Advertising Advertising for alcoholic beverages is pervasive and persuasive