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Author Question: A product that is a close substitute but not a perfect substitute for the products of the other ... (Read 194 times)

lunatika

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on: Jun 29, 2018
A product that is a close substitute but not a perfect substitute for the products of the other firms is called
 
  A) a homogeneous product.
  B) an efficient product.
  C) a differentiated product.
  D) an inelastic product.

Question 2

Food is an example of a ________ good.
 
  A) nonrival and nonexcludable
  B) rival and excludable
  C) nonrival and excludable
  D) rival and nonexcludable


mistyjohnson

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

C

Answer to Question 2

B


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