Product differentiation that makes the product better than a rival's product from everyone's perspective
A. makes the rival's product obsolete.
B. is known as horizontal differentiation.
C. always increases welfare.
D. is known as vertical differentiation.
Answer: D
You might also like to view...
The interest rate that banks charge one another for the loan of excess reserves is the ________.
A. discount rate B. interest on reserves C. federal funds rate D. prime rate
According to Keynes, it is __________ to have __________ holding money
A) possible; capital gains or losses from B) impossible; capital gains and losses from C) possible; a higher opportunity cost of D) impossible; a lower opportunity cost of
The United States is a major exporter of
a. diamonds b. bauxite c. coffee d. corn e. gold
President Obama signed legislation that pumped $787 million worth of federal spending and tax cuts into the economy.
Answer the following statement true (T) or false (F)