Product Differentiation

question 59

Multiple Choice

Product differentiation:

• A)is carried out by perfectly competitive and monopolistically competitive firms.
• B)is succesful if a firm faces a relatively inelastic demand curve.
• C)does not allow the firm to raise its price without losing all of its customers.
• D)cannot be accomplished through advertising or trivial product changes.
• E)if carried out successfully enables the firms to enjoy market power.

---

Definitions:

Physical Hazard

A condition in the environment or surroundings that has the potential to cause injury or harm to humans, animals, or property.

Hurricane

A type of tropical cyclone characterized by a low-pressure center, thunderstorms, strong winds, and heavy rain, causing significant weather-related events like floods.

Driving

The act of operating and controlling a vehicle, such as a car, truck, or motorcycle, on roads.

Acute Effect

Immediate or rapid health impacts following a single or short-term exposure to a hazardous substance or condition.