Products are homogenous when
A) They are identical in the eyes of the purchasers
B) Some purchasers view the products as different
C) Suppliers can charge different prices for the same good
D) They are different in the eyes of the purchasers

Question

Quizplus · Accepted Answer

Homogenous products are identical in the eyes of the purchasers, which means that they cannot distinguish between one product and another. In other words, there is no differentiation in terms of quality, features, or any other aspect that would make one product stand out from the others. This makes it difficult for suppliers to charge different prices for the same product, as customers are likely to choose the cheapest option available to them.

Products Are Homogenous When