ECO 204 Week 3 DQs

Apr 16th, 2015
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ECO 204 WEEK 4 DQ 1In a market in which there is vertical differentiation, we always see price differences among the products. In markets with horizontal differentiation, sometimes the products differ but prices are very much the same. Why does vertical differentiation naturally bring with it price differences?The answer, of course, is in the price. The better products cost more, and only some people find it worthwhile to pay higher price to get a better product. So differences among people also give rise to vertical differentiation. Some people value quality in a specific product more than

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