For each of the following pairs of firms, explain which firm would be more likely to engage

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For each of the following pairs of firms, explain which firm would be more likely to engage in advertising:

a. A family-owned farm or a family-owned restaurant.

b. A manufacturer of forklift trucks or a manufacturer of cars.

c. A company that invented a very reliable watch or a company that invented a less reliable watch that costs the same amount to make.

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Economics

ISBN: 124344

2nd Edition

Authors: N. Gregory Mankiw

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