How do economists explain the value firms and consumers place on brand names? Brand names show...
How do economists explain the value firms and consumers place on brand names?
Brand names show that firms can easily manipulate consumers.
Brand names are a way firms can provide information about quality to consumers.
Brand names are a way of turning private goods into public goods, increasing their value to both seller and buyer.
Brand names are an example of adverse selection, by which producers advertise the options to consumers.
Homework Answers
Option B
- According to the Economists , the firms and consumers place certain value on brand names as they provide information on the quality of the products to the consumers.
- The value firms place on brand names is based on the quality and benefits that they provide the customers to make them happy.
- The brand names with certain value will make the customers invest in those brands that are worth the money.
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How do economists explain the value firms and consumers place on
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