TRAIN BRAIN: “Why so many cereals?

“Why so many cereals?" - The economics of competition

Professor Jon Gruber explains how companies use product differentiation - such as in the breakfast cereal industry - to maintain profitability in highly competitive markets, in this segment from lecture 14 of Principles of Microeconomics.
#Competition #ProductDifferentiation #Monopolies #BreakfastCereal #Economy #Economics #MicroEconomics #ChoiceOverload #CournotModel #BertrandModel #MIT #IntroEconomics #IntroEconomicsCourse

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