When a Firm Has a Greater Positive Difference Between Cost

question 10

Multiple Choice

When a firm has a greater positive difference between cost and value than its rivals,it can achieve competitive advantage by:

• A) Raising the price and maintaining market share and volumes.
• B) Increasing production costs while lowering prices.
• C) Charging the same or even lower prices and selling more goods or services.
• D) Minimizing the difference between value and cost and lowering prices.

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Definitions:

German System

Refers to Germany's model of industrial relations, characterized by a high level of worker participation in management decisions through mechanisms like works councils and co-determination.

Interunion Competition

Competition between different labor unions to represent workers in a particular sector or company.

Independent Labor Unions

Unions that operate independently of existing labor federations or national labor organizations, often focusing on specific workplace issues or industries.

ACFTU

The All-China Federation of Trade Unions, the national trade union organization in the People's Republic of China, serving as the umbrella organization for all Chinese trade unions.