It is harder to charge a high price if the company operates in a differentiated product market.

Name: It is harder to charge a high price if the company operates in a differentiated product market.
Brand: Quizplus
Rating: 4.9 (46 reviews)

Question

Quizplus · Accepted Answer

In a differentiated product market, companies have unique products that are not easily substitutable. This gives them more pricing power and the ability to charge higher prices. Therefore, it is easier for them to charge a high price in this type of market.

It Is Harder to Charge a High Price If the Company