Critics of markets that are characterized by firms that sell brand-name products argue that brand names encourage consumers to pay more for branded products that
A)have elastic demand curves.
B)are very different from generic products.
C)are indistinguishable from generic products.
D)consumer-advocate groups have found to be inferior.

Question

Quizplus · Accepted Answer

Critics argue that brand names can lead consumers to pay more for products that are essentially the same as their generic counterparts, implying that the premium price is for the brand rather than any substantive difference in quality or features.

Critics of Markets That Are Characterized by Firms That Sell