Consider two running shoe companies, Abebe and Haile, each of which produces a shoe made specifically for marathon racing. Abebe offers the shoe in one color scheme, while Haile allows consumers to choose their own color combination from a menu of ten colors. Aside from color, Haile shoes and Abebe shoes are very similar. Haile also has a lenient return policy that allows its customers to receive a full refund for their purchased shoes if they are dissatisfied for any reason, while Abebe customers are unable to return their shoes under any circumstances.
Which form or forms of product differentiation does Haile use to distinguish its racing shoe from that of its rival? Check all that apply.
A. Location
B. Physical Differences
C. Prestige
D. Service. Part 2:True or False: Higher long-run product price can occur as a result of advertising in a monopolistically competitive market.
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