What can be used to influence and shape consumers’ intangible preferences in order to differentiate products within a monopolistically competitive market? Group of answer choices pricing strategy product placement advertising

What can be used to influence and shape consumers’ intangible preferences in order to differentiate products within a monopolistically competitive market? Group of answer choices pricing strategy product placement advertising

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter11: Monopolistic Competition, Oligopoly, And Game Theory

Section: Chapter Questions

Problem 1WNG

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Question

What can be used to influence and shape consumers’ intangible preferences in order to differentiate products within a monopolistically competitive market?

Group of answer choices

pricing strategy

product placement

advertising

Definition Definition Form of market structure in which there are a large number of sellers of a particular product, with each seller selling somewhat differentiated but close substitutes to the product sold by other sellers. Features of monopolistic competition include: Large number of buyers and sellers Differentiated products Free entry and exit of the firms in the market

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