Which of the Following Examples Illustrates a Firm That Has

question 146

Multiple Choice

Which of the following examples illustrates a firm that has achieved competitive advantage through costs?

• A) a firm that uses patented technology to deliver goods and services to customers on time
• B) a firm's ability to adjust and adapt to different demographic segments and satisfy their needs
• C) a firm that invests only a small amount on promotion and maximizes profits by charging low prices
• D) a firm's technology that creates high quality products and services
• E) a firm that specializes in developing timely new products

Compute and interpret the median and mode from given data sets.

Apply the empirical rule for data having a bell-shaped distribution.

Understand the importance and application of operational definitions in psychological research.

Grasp the influence of misinformation, biases, and critical thinking roadblocks on perception and belief formation.

---

Definitions:

Financial Advantage

The benefit or edge that a business or individual has that allows them to generate more income or wealth compared to others.

Fixed Manufacturing Overhead

Regular, consistent expenses that do not vary with production levels, such as salaries of supervisors and rent for factory facilities.

Financial Advantage

The benefit obtained from making specific financial decisions or investments, often measured in terms of profit, savings, or a more favorable financial position.

Variable Costs

Expenses that change in proportion to the business activity level.