Author Question: Product differentiation is a defining characteristic of A) perfectly elastic demand. B) ... (Read 27 times)

storky111 · **on:** Jun 29, 2018

Product differentiation is a defining characteristic of

A) perfectly elastic demand.
B) oligopoly.
C) perfect competition.
D) monopolistic competition.

Question 2

Fred spends all of his income on two goods: DVDs and downloaded music. If Fred's marginal utility per dollar from DVDs is greater than his marginal utility per dollar from downloaded music, Fred can ________ his total utility by buying ________.

A) maximize; more DVDs and more downloaded music
B) increase; more downloaded music and fewer DVDs
C) increase; more DVDs and less downloaded music
D) maximize; fewer DVDs and less downloaded music