Explain why firms often create different versions of a product: a low-quality, low-price version that appeals to

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Explain why firms often create different versions of a product: a low-quality, low-price version that appeals to price-sensitive consumers, and a high-quality, high-price version to appeal to less pricesensitive consumers.

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Microeconomics

ISBN: 9780470563588

4th Edition

Authors: David Besanko, Ronald Braeutigam

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