If the products of two firms are homogeneous,then they
A)Are perfect substitutes.
B)Differ from each other.
C)Must be used together.
D)Are costless to produce.

Question

Quizplus · Accepted Answer

If the products of two firms are homogeneous, it means that they are identical in terms of quality and features, and hence they are perfect substitutes for each other. This means that consumers would be indifferent between buying the products of either firm, and they would simply choose based on other factors like price or brand loyalty.

If the Products of Two Firms Are Homogeneous,then They