Author Question: The principle of minimum differentiation suggests that competitors A) try to distinguish ... (Read 53 times)

dbose · **on:** Jun 29, 2018

The principle of minimum differentiation suggests that competitors

A) try to distinguish themselves by offering highly different products.
B) try to gain the largest market share by differentiating a popular product.
C) tend to make identical goods in order to appeal to the largest number of consumers.
D) try to decrease costs by minimizing the differences in the types of resources used.

Question 2

A worker supplies labor to the market if the

A) wage is less than the reservation wage.
B) wage is greater than the reservation wage.
C) minimum wage is less than the reservation wage.
D) demand for labor exceeds the supply of labor.