Which of the following is true of product differentiation? a. Product differenti

Question

Which of the following is true of product differentiation? a. Product differentiation exists only when the products are actually different from each other. b. Product differentiation exists when producers perceive the products to be different. c. Product differentiation exists when similar goods are sold in geographically segregated markets. d. Product differentiation exists when consumers perceive the products to be different. e. Product differentiation is the first order derivative of the production function.

Explanation / Answer

a. Product differentiation exists only when the products are actually different from each other.

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