which best describes how advertising influences consumer choice in an oligopoly?\nadvertising coaxes people…
which best describes how advertising influences consumer choice in an oligopoly?\nadvertising coaxes people to buy new products.\nadvertising alerts consumers to price reductions.\nadvertising undermines competition.\nadvertising informs brand knowledge.
Answer
Brief Explanations:
In an oligopoly, firms use advertising to inform consumers about their brands. This helps consumers make choices based on brand - related information. Advertising in an oligopoly is not mainly about coaxing to buy new products as product innovation isn't the main focus. It's not primarily about alerting to price reductions as oligopolistic firms often engage in non - price competition. And while it can have an impact on competition, its key role in consumer choice is brand knowledge dissemination.
Answer:
Advertising informs brand knowledge.