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Question
Product differentiation allows partial control over price.
Product differentiation allows partial control over price.
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Solution
The correct option is A True
True.
Product differentiation leads to availability of close, but not perfect, substitutes for the commodity. Each firm can, thus, decide its price policy independently, which gives the firm partial control over price of the product.
True.
Product differentiation leads to availability of close, but not perfect, substitutes for the commodity. Each firm can, thus, decide its price policy independently, which gives the firm partial control over price of the product.
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