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

Author Question: What is meant by product differentiation? What will be an ideal ... (Read 35 times)

Melani1276

  • Hero Member
  • *****
  • Posts: 516
on: Jun 29, 2018
What is meant by product differentiation?
 
  What will be an ideal response?

Question 2

According to the table above, would there be trade flows in both directions if the exchange rate were 1 = 1 peso?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jlaineee

  • Sr. Member
  • ****
  • Posts: 380
Reply #1 on: Jun 29, 2018
Answer to Question 1

Product differentiation is a strategy that firms use to achieve market power. It involves producing products that have distinct positive identities in consumers' minds.

Answer to Question 2

At this exchange rate the trade flows would only be in one direction. Residents of Mexico would wish to purchase both paper and plastics from the United States. The reason is that in Mexico Paper is three times as expensive and plastics are twice as expensive at prevailing exchange rates.


Melani1276

  • Member
  • Posts: 516
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

Mochi

  • Member
  • Posts: 300
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

Ginkgo Biloba label. The label indicates the product is standardized to percentages of the two ... Ginkgo Biloba label. The label indicates the product is standardized to percentages of the two ...
How to use implicit differentiation How to use implicit differentiation
the transamination product of tryptophan is decarboxylated to yield indole-3-acetic acid, or auxin the transamination product of tryptophan is decarboxylated to yield indole-3-acetic acid, or auxin
Overallocation of Labor to Farming When Farmworkers Are Paid Their Average Product Overallocation of Labor to Farming When Farmworkers Are Paid Their Average Product
To find the derivative use product rule To find the derivative use product rule
If CP for an ideal gas is 35.4 J/molK, which of the following is CV for this gas? If CP for an ideal gas is 35.4 J/molK, which of the following is CV for this gas?
Video: Nervous pathway to the Neuromuscular (NMJ)

For a complete list of videos, visit our video library