A Sustainable Competitive Advantage Exists for an Organization When Other

question 20

Multiple Choice

A sustainable competitive advantage exists for an organization when other companies have tried unsuccessfully to duplicate the advantage and____________ .

• A) those companies have been prohibited from duplicating the advantage by federal law
• B) those companies have, for the moment, stopped trying to duplicate the advantage
• C) the organization is able to implement exclusive distribution
• D) the organization operates in the international marketplace
• E) the organization has a follower strategic stance

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Definitions:

Factor Demand

Refers to the demand for resources or inputs that are used in the production of goods or services.

Long-Run Cost Function

The relationship between output quantities and total cost when all inputs, including capital, are variable in the production process.

Output Supply

The quantity of a good or service that producers are willing to sell at various prices over a certain period of time.

Price

The amount of money required to purchase a good or service, often determined by supply and demand dynamics in a marketplace.