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Author Question: Advertising for Milk and Beef is usually done by A) interest groups that represent the whole ... (Read 17 times)

lracut11

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  • Posts: 536
on: Jul 1, 2018
Advertising for Milk and Beef is usually done by
 
  A) interest groups that represent the whole industry.
  B) a single firm in the market.
  C) a small set of firms in a market.
  D) It is not done because it doesn't pay to advertise homogeneous products.

Question 2

If only one firm operates in a market, and a potential entrant is blockaded from entering the market, then the incumbent firm must
 
  A) have acted to prevent entry.
  B) be pricing where price equals marginal cost.
  C) be a natural monopoly.
  D) be the Stackelberg leader.
Microeconomics ¦ Perloff ¦ 8th Edition
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tranoy

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Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

C


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