The empirical evidence on IIT has shown that it works only for horizontal product differentiation.

Name: The empirical evidence on IIT has shown that it works only for horizontal product differentiation.
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Question

Quizplus · Accepted Answer

The empirical evidence on International Trade Theory (IIT) does not limit its effectiveness to only horizontal product differentiation; it also encompasses vertical product differentiation, where products differ in quality.

The Empirical Evidence on IIT Has Shown That It Works