In a Competitive Market,if Buyers Did Not Know All the Prices

question 56

Multiple Choice

In a competitive market,if buyers did not know all the prices charged by the many firms,

• A) all firms still face horizontal demand curves.
• B) firms sell a differentiated product.
• C) demand curves can be downward sloping for some or all firms.
• D) the number of firms will most likely decrease.

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Definitions:

Different Behaviors

Varied actions or reactions of individuals in response to external or internal stimuli, differing across contexts or situations.

Unique Segmentation

Segmentation that targets the preferences of a group of consumers with similar needs and wants only within one country.

Similarity

The state or fact of being alike or having common features or attributes.

Psychographics

A marketing research method that analyzes consumer lifestyles, values, attitudes, and personality traits to better understand their buying behavior.