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If Kellogg's Offered Different Varieties of Breakfast Cereals in India

question 152

True/False

If Kellogg's offered different varieties of breakfast cereals in India as compared to Australia, and also positioned its products differently in the two countries, then Kellogg's would be engaging in dual adaptation.


Definitions:

Equilibrium Price

The price at which the quantity of a good demanded equals the quantity supplied.

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded.

Price Ceiling

A legal maximum price that can be charged for a good or service, beyond which it cannot be sold.

Price Ceiling

A legal maximum price that can be charged for a good or service, determined by a government.

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