Answer to Question #184325 in Microeconomics for myra

Question

suppose you are the economics adviser of a company producing three brands of mobile phones

Answer 1

In this case, I would advise the three companies to focus on the mobile phone features which attract the customers. It is important for the firms to identify main aspect based on the consumers preference. For instance, the performance of a phone tend to be critical to consumer's preference, therefore it is important for the companies to invest on such aspects to fit in the global market.