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10 August, 17:46

If firms produce a homogeneous product, then

A. products will be perfectly substitutable with one another.

B. individual firms can raise price without losing all sales.

C. the market may have multiple prices.

D. market output will not be a commodity.

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Answers (1)
  1. 10 August, 18:58
    0
    A

    Explanation:

    Products will be perfectly substitutable with one another. For example, if ACME produces only TNT bombs, a wide multiplicity of firms can come up with cheaper and/or more effective products, which would end up with people choosing those other products and stop buying ACME's.
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Home » Business » If firms produce a homogeneous product, then A. products will be perfectly substitutable with one another. B. individual firms can raise price without losing all sales. C. the market may have multiple prices. D. market output will not be a commodity.
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