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24 September, 06:17

Glen found three brands of earbuds that have the specifications he wants. The three pairs of earbuds looked a bit different from each other, but Glen knew they would perform similarly. Still, each company offered its earbuds at a different price. What economic concept does this situation represent?

1. collusion

2. product differentiation

3. price-fixing

4. natural monopoly

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Answers (1)
  1. 24 September, 09:03
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    2. Product Differentitation
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