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23 September, 20:19

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. 23 September, 20:31
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    2. Product Differentitation
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