Which of the following statements supports the ideology that advertising equals market power?
A) Advertising does not change the way customers value various product attributes.
B) Industry prices of products in the market decrease as a result of advertising.
C) Advertising encourages new brands to enter the market.
D) Only the relationship between price and quality affects elasticity for a product.
E) Firms are insulated from market competition and they can be more discretionary.
Correct Answer:
Verified
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