which best describes how advertising influences consumer choice in an oligopoly? advertising coaxes people…
which best describes how advertising influences consumer choice in an oligopoly? advertising coaxes people to buy new products. advertising alerts consumers to price reductions. advertising undermines competition. advertising informs brand knowledge.
Answer
Answer:
Advertising informs brand knowledge.
Brief Explanations:
In an oligopoly, firms use advertising to build brand - recognition. This helps consumers make choices based on brand knowledge. Advertising in oligopoly is less about new product coaxing or price - alerting compared to brand - building. And it doesn't undermine competition but is part of competitive strategies.