Which of the Following Is NOT a Type of Competitive

question 18

Multiple Choice

Which of the following is NOT a type of competitive advantage?

• A) Management structure
• B) Cost
• C) Product/service differentiation
• D) Niche
• E) All of these choices are types of competitive advantages.

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Definitions:

Insulin

A hormone produced by the pancreas that regulates blood glucose levels by facilitating the uptake of glucose into tissues.

Monopoly

A market structure characterized by a single seller that exercises exclusive control over a particular commodity or service, preventing competition.

Oligopoly

A market structure characterized by a small number of firms whose decisions about production and pricing significantly affect each other.

Perfect Competition

A market structure characterized by a large number of small firms, identical products, and no barriers to entry or exit, leading to price determination by market forces.