Question

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. consumer-advocate groups have found to be inferior. d. are indistinguishable from generic products.

Answer 1

Option D

Step-by-step explanation:

In simple words, Generic commercial product labels are differentiated by the exclusion of a brand name, often known only by product features and characterized by simple, typically colored-and-white labeling.

They usually emulate more costly advertised goods, competing on costs. A generic product is also not generally aggressively advertised and often wipes the floor on a pricing comparison with other branded products. Most often, processed goods and medications are sold as generic items to consumers.