57.When existing firms lose customers and profits due to entry of a new competitor, aSelect one:a. a.predatory-pricing externality occurs.b. b.consumption externality occurs.c. c.business-stealing externality occurs.d. d.product-variety externality occurs.correctThe correct answer is: c.business-stealing externality occurs.
58.When a new firm enters a monopolistically competitive market, the individual demand curves faced by all existing firms in thatmarket willSelect one:
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59. Price discrimination requires the firm toSelect one:
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60. Price discriminationSelect one:
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20.When existing firms lose customers and profits due to entry of a new competitor, aa. predatory-pricing externality occurs.b. consumption externality occurs.c. business-stealing externality occurs.d. product-variety externality occurs.ANSWER:c
21.The product-variety externality is associated with the
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22.The relationship between advertising and product differentiation is
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23.Which of the following isnotan argument made by critics of advertising?
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