1.3M, a nationally known US manufacturer with strong brand recognition, makes M-95 face masks.This type of filter out 95% of all very fine particles and are the standard for hospital use in surgery and so forth. There are many other companies around the world that make face masks also labeled as xx-95 and there has been a surge in online sales. What are the issues, precisely, in making the choice to purchase facemasks for your and your family's personal use?

2.Under what conditions may a fraudulent firm exist and continue to operate?

3.Imperfect information may be asymmetric or incomplete.What is the difference?

4.Almost three decades ago the only hand soap available was traditional bar soap. An entrepreneur developed liquid soap and manufactured what he called "Softsoap" now a national brand in a monopolistically competitive market. He knew he could not compete with the dominant firms, so he contracted with every manufacturer of plastic dispenser bottles and took a whole year's production capacity.Why?What are the characteristics of this market that he needed to overcome to be a dominate player?

5.Can the optimal amount of advertising be calculated as a traditional, marginal benefit - marginal cost, optimization problem?Explain how or why not.