This topic contains a solution. Click here to go to the answer

Author Question: What is product differentiation? What market structure is characterized by product differentiation? ... (Read 67 times)

silviawilliams41

  • Hero Member
  • *****
  • Posts: 560
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
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
Excellent


Liddy

  • Member
  • Posts: 342
Reply 3 on: Yesterday
Gracias!

 

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

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?

Women are 50% to 75% more likely than men to experience an adverse drug reaction.

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Did you know?

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

For a complete list of videos, visit our video library