1. Why do firms from each of the following categories become multinational? Identify the competitive advantages that a firm in each category must have to be a successful multinational.
a. Raw-materials seekers
b. Market seekers
c. Cost minimizers
2. Which of the following can occur as a result of advertising in a monopolistically competitive market? Check all that apply.
a) Positive long-run economic profit b) Lower long-run product price c) Expansion of the market d) Posutuve short run profit