Sustained Competitive Advantage Is Most Achievable in a __________ Market

question 28

Multiple Choice

Sustained competitive advantage is most achievable in a __________ market.

• A) slow-cycle
• B) medium-cycle
• C) standard-cycle
• D) fast-cycle

---

Definitions:

Estimating Price Elasticity

The process of calculating how sensitive the quantity demanded of a good is to a change in its price.

Price Elasticity

A quantification of demand fluctuation for a product based on its price alteration.

Demand

The amount of a product or service that buyers are ready and able to buy at different price points over a specified duration.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to buy at a given price within a specified period.