If product differentiation continues to diminish,the firm's demand curve becomes more elastic.

Name: If product differentiation continues to diminish,the firm's demand curve becomes more elastic.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

If products become less differentiated, consumers may be more willing to switch to substitutes or alternative brands, making the firm's demand curve more elastic. This means that small changes in price may result in larger changes in quantity demanded.

If Product Differentiation Continues to Diminish,the Firm's Demand Curve Becomes