A Breakthrough Opportunity

question 189

Multiple Choice

A breakthrough opportunity

• A) is an opportunity that gives a firm some sort of competitive advantage.
• B) can usually be achieved by copying the "best practices" of other firms that sell similar products.
• C) is one that helps an innovator develop a hard-to-copy marketing strategy that will be very profitable for a long time.
• D) is one that requires the firm to "breakthrough" its current resource limitations to obtain a new type of competitive advantage.
• E) is usually achieved by making better operational decisions.

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Definitions:

Budget Constraint

The limit on the consumption bundles that a consumer can afford based on income, prices, and wealth.

Prices Change

The variation in the cost of goods and services over time, which can be influenced by factors like supply and demand, inflation, and market competition.

Inferior Good

An inferior good is one whose demand decreases as the income of the consumer increases, inversely related to income.

Price Decrease

A reduction in the cost of a good or service, which usually leads to an increase in the quantity demanded by consumers.