Ask Question
BusinessBusiness
9 May, 11:20

Siyed, an economics student, believes that a beer sold by one particular shack on the beach is completely different from an identical beer produced by the same factory and sold by the luxury hotel adjacent to the shack. Siyed most likely thinks that

A the luxury hotel and the shack are in a perfectly competitive industry.

B the luxury hotel is a monopoly seller of the beer.

C the luxury hotel and the shack are in a monopolistically competitive industry.

D the shack is in a perfectly competitive industry, but the luxury hotel is in an oligopoly industry.

E while beer is homogeneous, the product is differentiated among the sellers.

+5
Answers (2)
  1. 9 May, 13:11
    0
    E) while beer is homogeneous, the product is differentiated among the sellers.

    Explanation: The beers are quite identical but each seller differentiates it
  2. 9 May, 13:12
    0
    Answer: E. while beer is homogeneous, the product is differentiated among the sellers.

    Explanation: In a bid to construct specific competitive advantages over competitors, sellers of similar or identical products often differentiate them usually through packaging or branding among others. This is known as product differentiation which when successful, leads to competitive advantage. While the beers are identical since they are produced by the same factory, the different stores may differentiate them in order to prod the consumers into choosing one over the other. As a result, Siyed most likely thinks that while the beer is homogeneous, the product is differentiated among the sellers.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Siyed, an economics student, believes that a beer sold by one particular shack on the beach is completely different from an identical beer ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Nash Corporation had income from continuing operations of $10,813,600 in 2020. During 2020, it disposed of its restaurant division at an after-tax loss of $206,600.
Answers (1)
When launching any technology product, a firm such as GoPro must create a balance between what is technically possible and whether the intended customer has the right level of technological sophistication.
Answers (1)
Heidi decided to make extra money by offering to do investments for her friends for a fee. She actually did no investing, but used the funds from new friends to pay off earlier enrollees.
Answers (1)
Croce, Inc., is investigating an investment in equipment that would have a useful life of 7 years. The company uses a discount rate of 8% in its capital budgeting. The net present value of the investment, excluding the salvage value, is - $515,967.
Answers (1)
A company's history indicates that 20% of its sales are for cash and the rest are on credit. Collections on credit sales are 20% in the month of the sale, 50% in the next month, and 30% the following month.
Answers (1)
New Questions in Business
Which of the following would be subtracted from net income when determining cash flows from operating activities under the indirect method? An increase in accounts payable. Depreciation expense. A decrease in prepaid insurance.
Answers (1)
Which entry would record the payment of a utility bill? A. Debit Utilities Expense; credit Cash B. Debit Cash; credit Utilities Expense C. Debit Utilities Expense; credit Accounts Payable D. Debit Accounts Receivable; credit Utilities Expense
Answers (1)
Waymire Company sells a motor that carries a 60-day unconditional warranty against product failure. From prior years' experience, Waymire estimates that 3% of units sold each period will require repair at an average cost of $100 per unit.
Answers (1)
In the film industry, what is the term used to describe all the activities and actions taken in order to create a movie? a. acquisition b. distribution c. exhibition d. production
Answers (1)
Taxpayers who recover all or part of an item that they deducted or took a credit for in a prior year, must report the same amount as
Answers (1)
Home » Business » Siyed, an economics student, believes that a beer sold by one particular shack on the beach is completely different from an identical beer produced by the same factory and sold by the luxury hotel adjacent to the shack.
Sign Up Forgot Password?