Because products are typically differentiated in some way, there tends to be significant advertising in monopolistically competitive industries. How does advertising affect a typical firm in a monopolistically competitive industry? Be descriptive in your answer
Publishers have traditionally sold testbooks at different prices in different areas of the world. As an example, a textbook that sells for $70 in the U.S. might sell for $5 in India. Although the Indian version might be printed on cheaper paper and lack color illustrations, it provides essentially the same information. Indian customers typically cannot afford to pay U.S. prices. Use the theories of price discrimination to explain this strategy.