When consumers do not view similar products as perfect substitutes,those products are called
A) Homogenous
B) Complements
C) Differentiated
D) Normal

Question

Quizplus · Accepted Answer

When consumers do not view similar products as perfect substitutes, it means that there are differences in the products such as brand, quality, packaging, or features. These differences make the products unique and allow firms to differentiate their products from competitors. This can lead to brand loyalty and the ability to charge higher prices for the differentiated product. Therefore, option C) Differentiated is the best choice for this question. Options A) Homogenous and D) Normal do not relate to the concept of substitute products, and option B) Complements refers to products that are used together, not products that are substitutes for each other.

When Consumers Do Not View Similar Products as Perfect Substitutes,those