Firms with Highly Differentiated Products May Have Loyal Customers, or Customers

question 23

True/False

Firms with highly differentiated products may have loyal customers, or customers who are unable to purchase similar products or services from other firms and are therefore more likely to accept increased prices due to a firm passing on increased costs by a powerful supplier.

---

Definitions:

Thymine

A pyrimidine base found in DNA, paired with adenine in the DNA double helix.

DNA Encoding

The process by which genetic information is represented in the DNA using the sequence of four nucleotides (adenine, thymine, cytosine, and guanine) to instruct the development and functioning of organisms.

Nucleotide Sequence

The precise linear order of nucleotides in a DNA or RNA molecule, which encodes the genetic information of an organism.

Sugar-phosphate Backbone

The structural framework of nucleic acids, consisting of alternating sugar and phosphate groups.