[Solved] Brand Name Drugs Are Chemically Identical to Their Generic Counterparts

Question 58
Multiple Choice

Brand name drugs are chemically identical to their generic counterparts. Yet, consumers often prefer the brand name product to the generic product. Making consumers think that a brand name drug differs from its generic counterpart is an example of

A) product differentiation.
B) perfect competition.
C) oligopolistic behavior.
D) price taking behavior.

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