Firm Resources Such as Intellectual Property and Brand Equity Are

question 63

Multiple Choice

Firm resources such as intellectual property and brand equity are important to a firm because:

• A) Having such resources allows for a firm to achieve competitive parity.
• B) Once created, maintaining such resources takes little managerial effort.
• C) They are intangible, costly to imitate and can lead to sustained competitive advantage(s).
• D) They are tangible and have a high degree of resource mobility.

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Definitions:

Marginal Cost

The supplementary cost derived from creating an additional good or service unit.

Pure Monopolist

An entity that is the sole provider of a product or service in a market, with no close substitutes, allowing for control over prices.

Nondiscriminating Pure Monopolist

A monopolistic market structure where a single seller offers a product to all consumers at the same price without price discrimination.

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, indicating the additional value created beyond the opportunity cost.