Product Differentiation

question 55

Multiple Choice

Product differentiation

• A) refers to firms' attempts to make their products look the same as other products in the industry.
• B) refers to firms' attempts to make real or apparent differences in essentially substitutable products look different in the minds of consumers.
• C) refers to the advantage big firms have in research and development.
• D) is a common characteristic of a perfectly competitive market structure.
• E) is employed only in a monopoly market structure.

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