Product differentiation is a hallmark of monopolistic competition, and the text lists four sources of such differentiation:
Question:
How important is each of the four sources of differentiation in each case? Give the most important source of differentiation in each case.
a. Fast-food restaurants
b. Espresso shops/carts
c. Hair stylists
d. Soft drinks
e. Wine
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a Physical differences are probably most important Big Macs Whoppers tacos and va...View the full answer
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