1.As product differentiation decreases, ________ increases. markup demand inelasticity marginal cost excess capacity
1.As product differentiation decreases, ________ increases.
| markup |
| demand inelasticity |
| marginal cost |
| excess capacity |
Homework Answers
1. Correct option: Demand inelasticity
Reason: A decrease in product differentiation will leave consumers with less options to chose from. This will reduce their elasticity of demand for goods and make the demand inelastic in nature as the market for that good becomes narrower.
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1.As product differentiation decreases, ________ increases.
markup
demand inelasticity
marginal cost
excess capacity
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