-Refer to the Above Information to Answer This Question

question 37

Multiple Choice

$\begin{array}{llcc} \text { 1. An increase in price: } & \text { A. An increase in the quantity traded: } \\ \text { 2. A decrease in price: } & \text {B. A decrease in the quantity traded; } \\ \text { 3. No change in price: } & \text {C. No change in quantity traded. } \\\end{array}$


-Refer to the above information to answer this question. What is the effect of an increase in business taxes?

• A) 1 and A.
• B) 1 and B.
• C) 1 and C.
• D) 2 and A
• E) 2 and B
• F) 1 and C

Understand the profitability analysis for firms in monopolistically competitive markets.

Identify the conditions for profit maximization in different competitive environments.

Recognize the role of information conveyed by advertising in economic decision-making.

Grasp the criticisms and defenses of advertising in a monopolistically competitive market.