If the quality differences of similar products are mostly imperceptible to the average consumer’s eyes, which of the following will most likely play a major role in influencing the decisions of purchasers?
A. price of competing products
B. size of competing products
C. purchaser’s opportunity cost
D. geographic origin of products
Answer:A
If the quality differences of similar products are mostly imperceptible to the average consumer’s eyes, which of the following will most likely play a major role in influencing the decisions of purchasers?
A. price of competing products B. size of competing products C. purchaser’s opportunity cost D. geographic origin of products
Explanation: 16. In the _________, the perfectly competitive firm will seek out ________________________ .