Product Differentiation and Advertising Are Used by Imperfectly Competitive Businesses

question 78

Multiple Choice

Product differentiation and advertising are used by imperfectly competitive businesses to achieve the two goals of:

• A)increased demand and demand elasticity
• B)decreased demand elasticity and increased opportunity to engage in successful price fixing
• C)the provision of consumer information and the promotion of consumer preferences
• D)increased demand and decreased demand elasticity
• E)decreased demand and increased demand elasticity

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Definitions:

James II

King of England and Ireland, and James VII of Scotland, who ruled from 1685 until he was deposed in the Glorious Revolution of 1688.

Inter-Colonial Militia

Armed forces composed of volunteers from different colonies, created for mutual defense and protection during the early colonial period in North America.

King William's War

The North American conflict (1689-1697) between France and England that was part of the larger Nine Years' War.

Iroquois

A historically powerful northeast Native American confederacy known for its political and organizational skills, as well as its influential role in American and Canadian history.