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Competitive Markets
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Problem 10
Competitive Markets
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3. The Market Forces of Supply and Demand / Competitive Markets / Problem 10
Problem 10
What is the primary implication of product differentiation in the fast food market?
A
It allows firms to set prices based on unique product features.
B
It results in a perfectly competitive market.
C
It leads to price competition among identical products.
D
It eliminates the need for advertising.
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