Elucidate in economic terms perplexing situation

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A father goes to the pharmacy late @ night for cold medicine for a sick child. There are many liquid cold medicines, all of which have almost exactly the same ingredients. Yet medicines with brand names that the man recognizes from TV commercials sell for more than the unadvertised versions. Elucidatye in economic terms, this perplexing situation to the father.

Reference no: EM1355772

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