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Author Question: Product differentiation exists within an industry if A) there are no substitutes for a product. ... (Read 70 times)

Melani1276

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on: Jun 29, 2018
Product differentiation exists within an industry if
 
  A) there are no substitutes for a product.
  B) there are close but not perfect substitutes for a product.
  C) the firm can sell all it wants at the chosen price.
  D) there is a monopoly.

Question 2

Which of the following is TRUE of a monopoly?
 
  A) It can always increase its revenue by increasing the price to its customers.
  B) It will always operate somewhere along the inelastic portion of the demand curve.
  C) Its marginal cost curve is always downward sloping.
  D) None of the above is correct.


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Sassygurl126

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

D


Melani1276

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

epscape

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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