"an in the news article titled "selling "pure water": a $billion scam?" refers to the use of advertising. when a firm successful

Question

svlad2 [7]

2 years ago

15

"an in the news article titled "selling "pure water": a $billion scam?" refers to the use of advertising. when a firm successful

ly advertises its product, the firm"

Business

1 answer:

meriva · Answer 1 · 2022-04-09T13:15:35+03:00

The firm has no control over its price because all firms are price takers. In this situation, even though the firm advertises its product successfully, it still can not decide how high it wants to set it, the market will determine the price and the demand of the product will determine how much or how little the price changes.