Firms have a competitive advantage when
a. They can deliver the same product benefits as their competitors but at a lower cost
b. They can deliver superior product at a similar cost
c. Both of the above
d. None of the above
c
Economics
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(Consider This) Which of the following is an example of a sunk cost, as it relates to a firm?
A. An expenditure on raw materials used in the production process. B. An expenditure on a nonrefundable, nontransferable airline ticket. C. An expenditure to buy a delivery van. D. An expenditure for a new factory.
Economics
Which of the following helps explain the problem of disappearing political discourse?
A. Moral hazard B. The lemons model C. Statistical discrimination D. Adverse selection
Economics