Multiple Choice
A product-market is one in which
A) products from different industries compete for customers by trying to satisfy the same basic need.
B) price is the determining factor in deciding which brand to buy.
C) all the customers want the exact same product but will consider a substitute if their preferred brand is not available.
D) one seller has a monopoly and there is no competition.
E) None of these answers is correct.
Correct Answer:
Verified
Correct Answer:
Verified
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