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Product Differentiation

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Suggest whether each of the following statements is true or false and illustrate why.

A. Sources of product differentiation include only physical differences, not merely perceived differences.
B. Price competition tends to be most vigorous for products with many actual or perceived differences.
C. The availability of good substitutes decreases the degree of competition.
D. Competition tends to be less vigorous when buyers and sellers have easy access to detailed price/product performance information.
E. The availability of good complements increases the degree of competition.

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Solution Preview

A. Sources of product differentiation include only physical differences, not merely perceived differences.

False. If a consumer perceives a difference, they will pay for it. If two hair stylists are both excellent at cutting hair but one has a better personality, the customer might pay a bit more for their service.

B. Price competition tends to be most vigorous ...

Solution Summary

A sentence explains why each response was either not suitable or the right selection, with examples to make it clear.

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See Also This Related BrainMass Solution

14 Derivative Problems : Product Rule, Quotient Rule, Chain Rule, First and Second Derivative and Finding Maximum or Minimum

Rules and Applications of the Derivative
--------------------------------------------------------------------------------
1. Use the Product Rule to find the derivatives of the following functions:

a. f(X) = (1- X^2)*(1+100X)

b. f(X) = (5X + X^-1)*(3X + X^2)

c. f(X) = (X^.5)*(1-X)

d. f(X) = (X^3 + X^4)*(30 + X^2)

2. Use the Chain Rule to find the derivatives of the following functions:

a. f(X) = (1- X^2)^5

b. f(X) = (5X + X^-1)^-1

c. f(X) =(1-X)^2

d. f(X) = (X^3 + X^4)^3

3. Use the Quotient Rule to find the derivatives of the following functions:

a. f(X) = 100/X^4

b. f(X) = 1/(5X + X^2)

c. f(X) =5/(1-X)

4. For each of the following functions find the 1) first and second derivative, 2) explain whether or not the function has a maximum or a minimum, and how you reached that conclusion, and 3) the value of the maximum or minimum

a. f(X) = 5X^2 - 2X

b. f(X) = 1000X - X^2

c. f(X) = 8X^3 - 4X^2

sorry about that forgot the powers

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