Question 21 1 Point As in there are barriers to entry in monopolistic competition. [14 2 2 Profit Maximization in the Long Run and Short Run] an oligopoly, low an oligopoly, high C perfect competition; low D perfect competition; highQuestion 22 1 Point When consumers value goods more than the marginal cost of production, too few goods are produced relative to what is required to achieve _(14.2 3 Monopolistic Competition versus Perfect Competition] allocation efficiency B a capacity shortage C excess capacity D productive efficiencyQuestion 23 1 Point causes firms in both monopolistic competition and perfect competition to earn zero economic profit in the long run. [14.2:2 Profit Maximization in the Long Run and Short Run] A Non-price competition B Product differentiation C Having some price-setting ability D Ease of entry and exitQuestion 24 1 Point Advertising refers to: [14 3.2 Economics of Advertising] A the many decisions involved in marketing products. B an attempt by a business to distinguish its products from its rivals' products without changing the price. C the business strategy of maximizing profits by selling essentially the same product at different prices to different consumers. D the paid activities that businesses use to sell products.Question 25 1 Point When companies survive for very long periods of time, consumers are NOT likely to: [14 3 3 Brand Names as a Signal of Quality] A view their merchandise as being reliable. B pay premium prices for their goods, C switch to a low-cost alternative brand. D see their brand as a signal for quality