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1.Explain the three types of goods: search goods, experience goods and credence goods. What type of advertising would firms likely use for each type of

1.Explain the three types of goods: search goods, experience goods and credence goods. What type of advertising would firms likely use for each type of good and why?

2.How is collusion used in oligopoly markets? What is a cartel? Are they legal? Give one example of either collusion or a cartel that has occurred in the past.

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