The monopolistic competitor differentiates its product and gets people to buy their product by providing better (1) ______, (2) ______, and (3) ______.
Fill in the blank(s) with the appropriate word(s).
service; ambience; convenience; location; gossip; personal recognition (any of these)
You might also like to view...
How is cross-price elasticity of demand used to determine whether two goods are substitutes or complements?
What will be an ideal response?
Channeling funds from individuals with surplus funds to those desiring funds when the saver does not purchase the borrower's security is known as
A) barter. B) redistribution. C) financial intermediation. D) taxation.
When compared to Canada or Japan, the U.S. is unusual in that it has:
A. fewer banks than Japan but more than Canada. B. more banks than either Japan or Canada. C. far fewer banks than either of those countries. D. more banks than Japan but fewer than Canada.
What will make a change in supply cause a small change in price?
What will be an ideal response?