An Advantage That Cannot Be Copied by the Competition Is

question 162

Multiple Choice

An advantage that cannot be copied by the competition is called a(n) _____ competitive advantage.

• A) sustainable
• B) monopolistic
• C) primary
• D) unique
• E) dominant

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Definitions:

Total Revenue

The total amount of money generated by a company from sales of its products or services before any expenses are subtracted.

Price Effect

The impact on the market when there is a change in the price of goods or services, influencing the supply and demand.

Output Effect

The change in total revenue resulting from the production of additional units of output in a competitive market.

Jointly Maximize

A strategy or action designed to optimize two or more objectives or outcomes at the same time.