Market Differentiation Is Based on Differences Between Groups of Consumers

question 36

True/False

Market differentiation is based on differences between groups of consumers.

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Definitions:

Economies of Scale

The cost advantage that arises with increased output of a product, as fixed costs are spread over more units.

Horizontal

A term describing alignment or arrangement on a single plane or level, often used to denote businesses operating at the same stage of the production process.

Anti-Trust Legislation

Laws aimed at promoting competition by regulating and preventing anti-competitive business practices.

Justice Department

A part of the U.S. federal government responsible for the enforcement of the law and administration of justice.