With a technological change that increases productivity, the average product curve ________ and the marginal product curve ________.
A) shifts upward; is unchanged
B) is unchanged; is unchanged
C) is unchanged; shifts upward
D) shifts upward; shifts upward
Question 2
Brand name aspirin is chemically identical to store brand aspirin. Yet, consumers often prefer the brand name product to the store brand product. This preference is an example of
A) product differentiation.
B) perfect product competition.
C) oligopolistic product competition.
D) price taking behavior.
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