Which of the following is/are TRUE?
I. Advertising embodies both information and persuasion.
II. Perfectly competitive firms and monopolistically competitive firms both advertise.
III. Monopolies and monopolistically competitive firms both advertise.

Question

Quizplus · Accepted Answer

I is true because advertising aims to provide information about products or services while also persuading consumers to purchase them. 
II is true because both perfectly competitive firms and monopolistically competitive firms may advertise as a means of promoting their products or services. 
III is true because monopolies and monopolistically competitive firms may use advertising to maintain market power or attract customers, respectively.

Which of the Following Is/are TRUE