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1.Individual firms in a perfectly competetive industry have no incentive to advertise. However, the industry as a whole may be motivated to do so. Why
1.Individual firms in a perfectly competetive industry have no incentive to advertise. However, the industry as a whole may be motivated to do so. Why is this? Make sure you explain why advertising is not beneficial to the individual firm and what the industry is trying to do by advertising.
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