Questions
Single choice
Product differentiation refers to
Options
A.A. differences among goods in a market that make them close, but not perfect substitutes for each other
B.B. different prices for the same good
C.C. different goods for the same price
D.D. the firm's ability to create different goods while using the same technology and resources
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Step-by-Step Analysis
Question restatement: The prompt asks for the concept of product differentiation.
Option A: 'A. differences among goods in a market that make them close, but not perfect substitutes for each other' This aligns with the standard definition of product differentiation: firms create products that are similar enough to be substitutes, yet distinct......Login to view full explanationLog in for full answers
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