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Advantages of Product Differentiation
We can distinguish between those advantages for the firm itself and those for the consumer:
a. For the firm.
i. The ability to increase prices without losing loyal consumers
ii. The stability of sales, due to brand loyalty. The firm will not be subject to the risks and uncertainties of intense price competition.
b. For the Customer
i. Consistent Product quality
ii. Wide consumer choice, between differentiated products.
Determine the studies of Managerial economics Managerial economics studies the application of techniques, principles as well as concepts of economics to managerial problems of
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Managerial Economics helps create utility for the Society.
PROPORTIONAL TAX Is where whatever the size of income, the same rate or same percentage is charged. Examples are commodity taxes like customs, excise duties and sales tax.
Assume that Nicolas and Orson plan to sell soft drinks on a beach this summer. The beach is 400 meters long and sunbathers are spread evenly across its length. Nicolas and Orson se
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