Product differentiation allows the firm to
a. raise price and lower quantity demanded
b. raise price without suffering a substantial loss of sales
c. shift the market demand curve to the left
d. shift the market supply curve to the left
e. decrease barriers to entry
B
Economics
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If the government regulates the price a monopoly can charge, and the price ceiling is set below what the competitive market price would be, then
A) a shortage will exist. B) a surplus will exist. C) producer surplus is maximized. D) consumer surplus is maximized.
Economics
When spending and incomes in an economy increase,
A) imports are likely to increase. B) imports are likely to be unchanged. C) imports are likely to decrease. D) exports are likely to decrease.
Economics