Result of successful product differentiation

One complicated result of successful product differentiation: (1) the demand curve shrinks making this more elastic. (2) the demand curve becomes perfectly elastic. (3) prices do not vary considerably between close substitutes. (4) each marginal revenue curve lies below the demand curve facing the firm.

Can anybody suggest me the proper explanation for given problem regarding Economics generally?

View Complete Question

Related Questions in Microeconomics

Q : Concept of pure rent in economics Pure

Pure economic profit is most closely associated to the concept of: (1) exploitation of labor. (2) opportunity cost. (3) pure rent. (4) pure oligopoly. (5) capitalization. I need a good answer on the topic of

Q : Illustration of transaction costs You

You are more probable to shop at a remote farmers’ market quite than buy apples at a local grocery store while: (w) possible, since produce is cheaper at the farmers’ market. (x) you would like to buy only vegetables and fruits. (y) the opportunity costs o

Q : Price inelasticity of supply The price

The price elasticity of supply is zero therefore supply is perfectly price inelastic within: (w) Panel A. (x) Panel B. (y) Panel C. (z) Panel D.

Q : Lacking of competition-product market

Can someone help me in finding out the right answer from the given options? The lack of competition in the product market outcomes in: (p) Less labor being appointed than if the markets were competitive. (q) More labor being hired than if the markets were competitive.

Q : Unitarily elastic for all prices and

On such demand curve for pizza as in below demonstrated graph, there demand is: (w) elastic for all prices and quantities demonstrated. (x) unitarily elastic for all prices and quantities shown. (y) elastic at high prices and inelastic at low prices. (z) inelastic at

Q : Buyers and sellers as in price-takers

Price-takers comprise buyers or sellers who are not capable to: (w) resist monopolistic exploitation. (x) influence the prevailing market price. (y) adjust the amounts they buy or sell. (z) make short-run economic profits.

Q : Problem regarding Craft Unions Can

Can someone help me in finding out the right answer from the given options. The craft unions historically tried to systematize all the workers in: (1) A specific company, in spite of size. (2) The United States. (3) The specific broad industry. (4) Relatively highly s

Q : Power monopsonist I have a problem in

I have a problem in economics on Power of monopsonist. Please help me in the given question. The firm which is the sole buyer of a specific good or resource is a: (m) Monopsonist. (n) Plutocracy. (o) Bilateral monopolist. (p) Price discriminator. (q) Conglomerate.

Q : Define legal tender money Legal tender

Legal tender money: Money which is declared legally as the medium of exchange by government is termed as legal tender money.

Q : Problem on coefficient of income

Refer to the following diagrams give the answer of following question. In which case would the coefficient of income elasticity be positive? 1) A 2) B 3) C 4) D

Discover Q & A

Leading Solution Library

Avail More Than 1438570 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1950805
Asked

3,689

Active Tutors

1438570

Questions
Answered

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

Submit Assignment