Product boundary of a market is defined by:
A) the geographic area in which sellers compete for buyers.
B) the price range that a product sells for in a market.
C) whether consumers view various products as substitutes.
D) the maximum profit that can be earned by the sellers.

Question

Quizplus · Accepted Answer

The product boundary of a market is determined by whether consumers view various products as substitutes, which defines the range of products that compete with each other.

Product Boundary of a Market Is Defined By