Firms That Produce and Sell Technologically Advanced Products in a Market

Multiple Choice

Firms that produce and sell technologically advanced products in a market make additional efforts to develop a good reputation and a brand name.This is because:

A) the brand name alone is sufficient to boost sales every year.
B) the brand name makes a firm's product perfectly price elastic.
C) the brand name lowers a firm's cost of production in the long run.
D) the brand name provides reliable information about the quality of the firm's product.