In this case, the Product class does not override the equals() method from the Object class. Therefore, the default behavior of equals() is to compare memory addresses rather than the contents of the objects. In the provided code, p1 and p2 reference the same object, so p1.equals(p2) returns true. However, p3 is a different object, even though it has the same pname value. Hence, p1.equals(p3) returns false. As a result, the output will be true false.