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NEW QUESTION: 1
Scenario:

A. Option D
B. Option C
C. Option A
D. Option B
Answer: C

NEW QUESTION: 2
Porter describes differentiation as a firm having a unique product or service that is valued by the customer.
Which ONE of the following is NOT a factor in the higher prices and profits from differentiated products?
A. Lower price elasticity of demand due to the product having few substitutes
B. Higher customer satisfaction making them willing to pay a higher price
C. Higher costs of production and marketing necessitating the charging of a higher price
D. Price inelastic supply because differentiation acts as a barrier to entry against other firms
Answer: C

NEW QUESTION: 3

A. Option D
B. Option C
C. Option A
D. Option B
Answer: D