The Key to Sustaining Competitive Advantage Is___________

question 26

Multiple Choice

The key to sustaining competitive advantage is___________ .

• A) faster computers with more memory
• B) using information technology to continuously improve and support the core functions of a business
• C) the Internet
• D) the ability of the managers to delegate
• E) how important the company's culture perceives conceptual skills

Understand the concepts of economies of scale, diseconomies of scale, and constant returns to scale.

Identify the transitions between economies of scale to diseconomies of scale or constant returns through examples.

Describe how long-run and short-run costs behave and influence firm decisions.

Analyze the impact of output changes on a firm's cost in the long run.

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Definitions:

Personal Property

Personal property refers to assets or belongings that are movable and not permanently fixed to one location, such as furniture, vehicles, and electronics.

Debt

An obligation owed by one party (the debtor) to a second party (the creditor); often referring to borrowed money that must be repaid.

Chapter 11

A part of the United States Bankruptcy Code that permits reorganization under the bankruptcy laws of the United States for corporations and partnerships.

Reorganization

The process of restructuring a company's business affairs, debts, and assets, often in the context of bankruptcy proceedings, to allow continued operation and recovery from financial distress.