To combat consumers' negative _________ of sustainable products, firms must design and produce sustainable products that are of high quality.

The total producer surplus for a good CANNOT be calculated as the:

A) sum of the individual producer surpluses for all sellers of the good.
B) area below the supply curve for the good up to the quantity of the good sold.
C) area above the supply curve and below the price that sellers receive for the good being sold.
D) sum,for all sellers of the good,of the difference between what each seller receives and the minimum amount he or she is willing to accept for selling the good.

From the perspective of Porter's five forces model, a(n) ___ is one in which intense rivalry already exists among competitors, there are substantial threats in terms of new competitors and substitute products, and suppliers and buyers are very powerful in bargaining over prices and quality.

A) attractive industry
B) unattractive industry
C) competitive industry
D) non-competitive industry
E) normal industry

Monopolistic competitors often hire a celebrity spokesperson to advertise their product.One reason such advertising works is that:

A) celebrities are better informed about the relative merits of different products than are the rest of us.
B) consumers assume that the celebrity has researched the product and that the claims being made on his or her behalf are true.
C) the fact that a firm is willing to pay the large fees associated with celebrity advertising signals to consumers that it is a major company and that it is therefore likely to have a reliable product.
D) celebrities encourage other firms to enter the industry.