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Med-Ready Supplies Produces and Sells Thermometers That Are Basically Identical

Question 60

Multiple Choice

Med-Ready Supplies produces and sells thermometers that are basically identical to those sold by other companies in the market. However, Med-Ready thermometers sell for twice the price of the other thermometers. Why can Med-Ready charge higher prices than other sellers yet still maintain customers?


A) Med-Ready must have lower production costs than other producers.
B) Med-Ready has successfully used barriers to entry to maintain its dominance.
C) Consumers are not interested in price but only in getting a thermometer that works.
D) In the minds of customers, Med-Ready must have successfully differentiated its thermometers from the others.

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