The Advantages That Come to Firms That Make Important Strategic

question 45

Multiple Choice

The advantages that come to firms that make important strategic and technological decisions early in the development of an industry are known as ________ advantages.

• A) first-mover
• B) competitive
• C) comparative
• D) emerging

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Definitions:

Total Cost

The complete cost of production that includes both fixed and variable costs.

Producing

The process of creating goods or services by combining various elements or resources.

Boots

Footwear that covers not only the feet but also the ankles and sometimes extends up to the knees or higher, designed for protection, style, or both.

Pairs

Pairs are sets of two items or entities considered together, often because they are related or function together.