Ill. The preservation of a "monopolistically competitive" firm's ability exercise a degree of control over the price and thus its ability to preserve economic profits over the long run is primarily achieved through the concept called "Product Differentiation". A. (10 Points) Provide the definition used in this module for "Product Differentiation". B. (10 Points) List and briefly describe the four (4) properties/approaches utilized in establishing and maintaining "Product Differentiation". 2. 3. 4