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Business, 29.08.2020 21:01 ramberson101

Productivity in the United States doubled between 1945 and 1990. However, the work week didn't get shorter because

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Why is the type of product sold in an industry an important characteristic? a firm that can differentiate its product from that of rivals may be able to charge a higher price for a superior product. a firm that sells intangible goods is usually considered a monopoly. service industries cannot differentiate their products, which makes it easy for new firms to enter the industry. expensive products are usually sold by perfectly competitive firms.
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