Product Features, by Themselves, Are

question 21

Multiple Choice

Product features, by themselves, are

• A) usually not a source of temporary competitive advantage, but they can be a source of a sustainable competitive advantage.
• B) usually not a source of either a temporary competitive advantage, or a source of a sustainable competitive advantage.
• C) usually can be a source of both a temporary competitive advantage and a source of a sustainable competitive advantage.
• D) usually not a source of sustained competitive advantage, but they can be a source of a temporary competitive advantage.

Understand the relationship between a consumer's willingness to pay, market price, and consumer surplus.

Evaluate the impact of market changes on consumer surplus.

Identify the total consumer surplus from graphical data or demand curves.

Determine consumer surplus at different price points for both individual consumers and aggregate markets.

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Definitions:

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