This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What is product differentiation? What market structure is characterized by product differentiation? ... (Read 66 times)

silviawilliams41

  • Hero Member
  • *****
  • Posts: 560
on: Jun 29, 2018
What is product differentiation? What market structure is characterized by product differentiation?
 
  What will be an ideal response?

Question 2

In the figure above, consumer surplus at the price that maximizes the profit for an unregulated, single-price monopolist is the area of
 
  A) rectangle 0heb.
  B) triangle abe.
  C) triangle eig.
  D) rectangle 0hgd.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Anonymous

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: Jun 29, 2018
Answer to Question 1

A firm practices product differentiation if it makes a product that is slightly different from the products of competing firms. A differentiated product has close substitutes, but not perfect substitutes. Product differentiation is a distinguishing feature of monopolistic competition.

Answer to Question 2

B


silviawilliams41

  • Member
  • Posts: 560
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

amynguyen1221

  • Member
  • Posts: 355
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

Terrestrial plants and animals can be characterized by analogous pathways for water gain and loss. Terrestrial plants and animals can be characterized by analogous pathways for water gain and loss.
The Structure of an Old High-Mass Star The Structure of an Old High-Mass Star
Chemical structure of DNA. Chemical structure of DNA.
Structure of tRNAs:Generalized tRNA structure Structure of tRNAs:Generalized tRNA structure
Main Hall, Trajan's Market Main Hall, Trajan's Market
A close relationship between greenhouse gas emissions and a country’s gross domestic product A close relationship between greenhouse gas emissions and a country’s gross domestic product
Video: ATPase function - membrane transport, contractile proteins and synthesis

For a complete list of videos, visit our video library