Product Differentiation Refers to

question 38

Multiple Choice

Product differentiation refers to

• A)sellers' price differences for the same product.
• B)at least slightly-different products offered by sellers.
• C)quality differences in products under perfect competition.
• D)unique products that have no close substitutes.
• E)firms' unethical practice of deception.

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Definitions:

Cat Food

A formulated pet food specifically designed to meet the dietary needs of cats.

Classical Conditioning

An educational process where two stimuli are consistently coupled together; a reaction initially provoked by the second stimulus is ultimately triggered by just the first stimulus.

Unconditioned Stimulus

In classical conditioning, a stimulus that naturally and automatically triggers a reflexive response without the need for prior learning.

Conditioned Response

A learned response to a previously neutral stimulus that has become conditioned through association with an unconditioned stimulus.