Define Product Differentiation

Product Differentiation: The Product differentitation is a condition when various producers under monopolistic competition, try to differentiate their product in terms of its size, shape, packaging, trade-mark and brand name. This is accomplish to attract buyers from the rivalary firms in the market.

View Complete Question

Related Questions in Microeconomics

Q : Reading Production Possibilities

I have a problem in economics on reading the Production Possibilities Frontiers graph. Please help me in determining the right answer from the following question. The graph below depicts the mythical country of the Sandwichia’s:

Q : Relationship between MPS and multiplier

Relationship between MPS and multiplier:K=1/1-MPC = 1/MPS or inverse relationship between MPS and the size of multiplier.

Q : Shut down by drastically raise price in

Mom and Pop Ping-Pong Balls is an established table tennis supply store within a small city. You are the owner of Ping-Pong Megastore as well and you have just opened up a location in their small city. When you set prices so low which Mom and Pop is forced to shut dow

Q : Total variable cost Total variable cost

Total variable cost:1. variable cost changes with the change in quantity. It increase or decrease as the output change.2. it is zero when output is zero3. Its curve is parallel to the curve of total cost.4. Example :- cost of r

Q : Objectives of Microeconomic policy

Widely accepted objectives for microeconomic policy comprise: (w) full employment. (x) general price stability. (y) economic development. (z) efficiency, freedom and equity. Hey friends please give your opinion for

Q : Simultaneously and automatically

When fear that giant firms will default onto their debts drives down the prices of corporate bonds, in that case: (w) established corporations will rely more heavily onto sales of stock to secure funds. (x) interest rates onto these bonds increase sim

Q : Spread of wage information The

The Employers frequently discourage the spread of wage information since they fear that: (i) Lower salaried workers might use the information to negotiate the raises. (ii) Firms honor employee’s privacy only when secrecy is reciprocated. (iii) Unions try to orga

Discover Q & A

Leading Solution Library

Avail More Than 1418572 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1953229
Asked

3,689

Active Tutors

1418572

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment