Question

Explain the implication of product differentiation in monopoly

Answer 1

First of all your question is incorrect

And its is monopolistic

a.it allows a firm a partial control over price of its product

b.there is a large number of close substitutes of product in a market it increases consumer choices

c.it has high elasticity of demand

d.and if the product differentiation is fake it leads to exploitation of the consumer through fake publicity of product

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