(a) Suppose producers cannot advertise. Of all the models we have discussed so far, which is most...

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(a) Suppose producers cannot advertise. Of all the models we have discussed so far, which is most appropriate for this market? Is one model more appropriate for the ψ informed consumers? Would you use a different model for the 1 − ψ uninformed consumers? Why?

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Akshay Agarwal

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