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Author Question: Product differentiation exists within an industry if A) there are no substitutes for a product. ... (Read 37 times)

Melani1276

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Product differentiation exists within an industry if
 
  A) there are no substitutes for a product.
  B) there are close but not perfect substitutes for a product.
  C) the firm can sell all it wants at the chosen price.
  D) there is a monopoly.

Question 2

Which of the following is TRUE of a monopoly?
 
  A) It can always increase its revenue by increasing the price to its customers.
  B) It will always operate somewhere along the inelastic portion of the demand curve.
  C) Its marginal cost curve is always downward sloping.
  D) None of the above is correct.



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Sassygurl126

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Answer to Question 1

B

Answer to Question 2

D




Melani1276

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it


TheNamesImani

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Reply 3 on: Yesterday
Wow, this really help

 

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