Which of the following exemplifies spatial differentiation used by firms under monopolistic competition to differentiate their product in the market?
a. A car dealer offering free after sales service for the first 8 months
b. A diamond jeweler offering products online and at retail stores situated at convenient locations
c. A cosmetics manufacturer providing free skin care tips to its customers
d. A toy manufacturer using bright colors for packaging its products
b
Economics
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If the demand for a good is elastic, the price elasticity of demand is ________
A) greater than 1 B) equal to 1 C) between 0 and 1 D) less than zero
Economics
Like the human body, an economy is made up of many small, specialized, interactive parts; like blood circulates in a human body, money circulates through an economy, providing necessary resources for both households and firms
Indicate whether the statement is true or false
Economics