If a Company Follows a Strategy of Product Differentiation, It

question 12

True/False

If a company follows a strategy of product differentiation, it will seek ways to set its products apart from competitors' in terms of quality, design or service.

---

Definitions:

Total Output

Total output is the total quantity of goods or services produced by an economy, firm, or machine in a specific period.

Marginal-Cost Curve

A graphical representation showing how the cost of producing one additional unit of a good varies as production volume changes.

Marginal Cost

The variation in overall expenses that occurs with the production of an additional unit.

Total-Cost Curve

A graphical representation showing the total cost of producing different quantities of a good or service.