4. the role of brand names and advertising which of the following statements about brand names is true? brand names are always economically wasteful since they dupe consumers into buying more expensive goods and services that are no different from generic versions. brand names give the seller an incentive to provide consistently high-quality products and services in order to protect the reputation of the brand. it is always rational to prefer brand names over generic substitutes. read the following example and determine whether it illustrates a common critique or defense of advertising. tim sees a commercial for a brand x clothing company that depicts the wearers of the clothes out having a good time with friends. although he doesn't particularly need new clothes, the commercial prompts him to buy a brand x t-shirt. this illustrates a common of advertising.

Pursuant to the video, if the news reporter had challenged the reasonableness of her detention by the coach store, coach could have claimed the which is also known as merchant protection statutes according to the book.

The market for corn in country a is highly competitive. at the current market price of $5/bushel there is a shortage of 100,000 bushels of corn in this country. media reports claim that the price of corn will rise drastically in the near future. according to these reports, the neighboring country b had witnessed a similar situation recently. at the same price, the shortage in country b was also 100,000 bushels and eventually the equilibrium price in b went up to $10/bushel. both countries are known to have equal number of corn producers and the market supply of corn is identical at all prices. this, combined with the fact that consumers in the two countries also have similar tastes and preferences, led the media to conclude that the price of corn in country a would soon be as high as $10/bushel. the new equilibrium price turns out to be below $10/bushel, what inferences can be drawn?

True or false entrepreneurs try to meet the needs of the marketplace by supplying a service or product