Question: QUESTION 4. What is the condition under which differentiation is likely to be more profitable than low cost? a. Consumers are relatively price-sensitive b. When

QUESTION 4. What is the condition under which differentiation is likely to be more profitable than low cost?

a. Consumers are relatively price-sensitive

b. When the good is a search good

c. When the industry has significant economies of scale that are being exploited by incumbents

d. All of the above

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