Barry Is Really Interested in Wine, So He Is Likely

question 87

Multiple Choice

Barry is really interested in wine, so he is likely to pay attention to advertisements and articles about this product. That's because knowing more about this product is very relevant to him. Which of the following factors will most likely cause Barry to pay attention to a wine advertisement?

• A) the bold colors in an ad
• B) a celebrity endorser in the ad
• C) his involvement with the product category
• D) an ad with pictures of many bottles of wine
• E) an with that attempts to influence him with subtle effects rather than overt sales attempts

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Definitions:

Economic Profit

The distinction in totality between incomes and costs, inclusive of both transparent and concealed expenses.

Long Run

A period in economics where all factors of production and costs are variable, allowing for full industry adjustment.

Economies of Scale

Economies of Scale refer to the cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.

Barriers to Entry

Obstacles that make it difficult for new competitors to enter a market.