Product differentiation that makes the product ________ is horizontal differentiation.
A. better than a rival's product from everyone's perspective
B. less expensive to produce than the rival's product
C. better for some consumers and worse for others
D. more similar to the rival's product
Answer: C
You might also like to view...
Producer surplus is the:
a. number of producers who are excluded from a market because of scarcity. b. amount of a good that a producers will sell at a price below the equilibrium price. c. amount consumers actually pay for a good minus the amount the sellers are willing to sell the good. d. amount consumers are willing to pay for a good minus the cost of producing the good.
One of the best examples of managed competition in practice is:
a. health maintenance organizations (HMO). b. consumer-directed health plans (CDHP). c. accountable care organizations (ACO). d. the Federal Employee Health Benefit Plan (FEHBP). e. preferred provider organizations (PPO).
The official poverty rate in the United States includes
A. over 35 percent of the population. B. between 20 to 25 percent of the population. C. between 10 and 15 percent of the population. D. less than 5 percent of the population.
If the marginal cost of producing a public good is less than society's total willingness to pay per unit, then
A. the optimal amount of the public good is being produced. B. more than the optimal amount of the public good is being produced. C. the amount of output being produced could be either greater than or less than the optimal amount. D. less than the optimal amount of the public good is being produced.