Glitter, Inc

question 303

Multiple Choice

Glitter, Inc. advertises its "gold-tone" jewelry on TV, along with a toll free number and the message that "operators are standing by now to take your credit card order." This is an example of:

• A) direct type competitive advertising.
• B) pioneering advertising.
• C) primary advertising.
• D) comparative advertising.
• E) indirect type competitive advertising.

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Definitions:

Imperfectly Competitive Market

A market structure where all firms have some control over the prices because the products are differentiated and there are few participants.

Total-Product Schedule

A chart that shows the maximum output of a good achievable from different levels of input usage, holding technology constant.

Purely Competitive

A market structure characterized by a large number of small firms, homogeneity of product, and free entry and exit from the market.

Marginal Revenue Product

The additional revenue generated from employing one more unit of a resource or input in production.