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1) Which is accurate about advertising?
A) All of these are accurate
B) Sometimes it helps provide information so competition is more effective
C) It wouldn't make sense in a perfectly competitive industry
D) Sometimes it manipulates preferences instead of helping people
2) Economies of scale is when average cost is lower for higher levels of output.
A) True
B) False
3) A monopoly that is not regulated will result in market failure based on too little production and a dead weight loss triangle, unless they can price discriminate for all customers.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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Explain each of the following using supply and demand diagrams, With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.
The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.
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