which best describes how advertising influences consumer choice in an oligopoly?\no advertising coaxes…
which best describes how advertising influences consumer choice in an oligopoly?\no advertising coaxes people to buy new products.\no advertising alerts consumers to price reductions.\no advertising undermines competition.\no advertising 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 new product introduction isn't the main focus), alerting to price reductions (price competition isn't always the key), or undermining competition in a negative sense. It's more about building brand awareness and influencing consumer choice through brand knowledge.
Answer:
Advertising informs brand knowledge.