The primary purpose of advertising for a monopolist is to increase

Question

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The primary purpose of advertising for a monopolist is to increase demand. As a monopolist controls the market and charges a higher price, it is crucial for them to create an artificial demand among the consumers for their products or services. By advertising extensively, a monopolist can create a sense of need, want or desire for their products, which can lead to an increase in demand and ultimately, higher revenue.

The Primary Purpose of Advertising for a Monopolist Is to Increase