When a Firm's Resources and Competencies Interact and Reinforce Each

question 8

Multiple Choice

When a firm's resources and competencies interact and reinforce each other,supporting the firm's strategy,a ________ is created.

• A)business-level strategy
• B)capability
• C)core resource
• D)virtuous cycle

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Definitions:

Demand

The quantity of a good or service that consumers are willing and able to purchase at different prices.

Total Revenue

The total amount of money a firm receives from sales of its products or services, calculated by multiplying the price per unit by the total number of units sold.

Price-inelastic

Price-inelastic describes a situation where the demand for a product or service is relatively unresponsive to changes in its price.

Linear Demand Curve

A graphical representation showing a straight-line relationship between the quantity demanded of a good and its price.