A Core Competency Is Something a Company Does Extremely Well

question 98

True/False

A core competency is something a company does extremely well, which sometimes gives it an advantage over its competition.

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Definitions:

AFC

Stands for Average Fixed Cost, which is the fixed costs of production divided by the quantity of output produced.

MC Curve

Marginal cost curve represents how the cost of producing one more unit of a good changes as production scales.

Market Quantity

The total amount of a good or service supplied and purchased in a market at a given price.

Fixed Costs

Costs that do not vary with the quantity of output produced, such as rent or salaries.