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In the diagram,where is the fulcrum?
Innovation
The process of transforming ideas into new or improved products, services, or processes, driving economic growth and solving problems.
Horizontal Differentiation
Variability of products that are essentially similar but differ in terms of attributes like design, flavor, or brand.
Consumer Welfare
The overall satisfaction, utility, or economic well-being that consumers experience from purchasing and consuming goods and services.
Advertising
The action of calling public attention to products, services, needs, etc., especially by paid announcements in newspapers and magazines, over radio or television, on billboards, etc.
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