Path Dependence Rests on the Notion That

question 4

Multiple Choice

Path dependence rests on the notion that

• A) time cannot be compressed at will.
• B) strategic decisions are easily reversible.
• C) rare resources can be built in a short period of time.
• D) competitive advantage can be sustained indefinitely.

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Definitions:

Pro-Rated

Adjusted according to a certain rate, portion, or amount. Often used for payments or charges that are calculated based on usage or time period within a full billing cycle.

Fixed Expenses

Expenses that do not change based on the quantity produced, such as furniture or machinery.

Variable Expenses

Costs that change in amount from period to period, fluctuating with usage levels, economic conditions, or personal choice.

Piecewise Function

Also called a split function; it gives a set of rules for each domain of the function; c(x) is computed differently depending on the value of x.