Which of These Are Unfair Trade Practices That the FTC

question 13

Multiple Choice

Which of these are unfair trade practices that the FTC is likely to challenge?

• A) failing to substantiate material representations in advertisements before publishing them or putting them on the air,
• B) making a direct comparison (even if true) about your product's qualities versus a competitor's product.
• C) taking unconscionable advantage of certain consumers or exploiting their service offering.
• D) a and c
• E) a, b, and c

Understand the concept of a production function and its relevance to the efficiency of different forms of production.

Identify and describe the characteristics of short-run and long-run production periods.

Analyze the implications of fixed and variable inputs on production functions.

Explain the law of diminishing returns and its impact on production.