When an Organization Is Better Than Competitors at Something That

question 6

Multiple Choice

When an organization is better than competitors at something that creates value for customers,and can maintain that capability for an extended period of time,it is said to have a(n) :

• A)Customer focus.
• B)Functional specialty
• C)Sustainable competitive advantage
• D)Effective work environment
• E)Evidence-based organization

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Definitions:

Linear Demand Curve

A linear demand curve depicts a direct, inverse relationship between the price of a product and the quantity demanded, represented graphically as a straight line.

Inelastic Portion

A segment of the demand curve where consumers are less sensitive to price changes, implying that the quantity demanded changes only slightly in response to large changes in price.

Elastic Portion

The segment of a demand or supply curve where a change in price leads to a more than proportional change in quantity demanded or supplied.

Marginal Cost Curve

A graphical representation showing how the cost of producing one more unit changes as production levels change.