_____ Refers to Performing Different Tasks Than Rivals or the Same

question 17

Multiple Choice

_____ refers to performing different tasks than rivals or the same tasks in a different way.

• A) Straddling
• B) Operational effectiveness
• C) Strategic positioning
• D) Vertical integration
• E) Scale advantage

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Definitions:

Long Run

A period in economics sufficient for all markets to reach equilibrium, where all inputs and outputs can be varied by firms, not constrained by existing physical capital.

ATC

Average Total Cost; the total cost per unit of output incurred when producing goods or services.

AVC

Average Variable Cost, the cost that varies with the level of output, divided by the quantity of output produced.