A competitive advantage is when a company achieves higher __________ than the average competitor in the...
A competitive advantage is when a company achieves higher __________ than the average competitor in the product market. Select one: a. profits b. revenues c. customer acquisition d. net promoter scores
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A competitive advantage is when a company achieves higher __________ than the average competitor in the product market
✓ profits.
(A competitive advantage in any form viz, larger customers, differentiation, market, products or services etc, leads to higher profits. And provides an edge over the competitors)
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A competitive advantage is when a company achieves higher
__________ than the average competitor in the...
A company achieves sustainable competitive advantage when A. it has a profitable business model. B. a...
A company achieves sustainable competitive advantage when A. it has a profitable business model. B. a sufficiently large number of buyers have a lasting preference for its products or services as compared to the offerings of competitors. C. it is able to maximize shareholder wealth. D. it is consistently able to achieve both its strategic and financial objectives. E. its strategy and its business model are well matched and in sync.
When can a company achieve sustainable competitive advantage? a) Whenever it possesses the most profitable business...
When can a company achieve sustainable competitive advantage? a) Whenever it possesses the most profitable business model in the industry and can satisfy shareholder expectations better than its competitors b) When elements of the strategy give buyers lasting reasons to prefer a company's products or services over those of competitors c) When it is able to produce better products for fewer costs than its rivals. d) When it consistently achieves both its long-term and short-term strategic and financial objectives. e)...
A firm has a competitive advantage when it a. Produces outputs from inputs efficiently b. Obtains...
A firm has a competitive advantage when it a. Produces outputs from inputs efficiently b. Obtains higher rates of economic profitability than rival firms within the same market c. Has a large market share d. All of the above statements are correct e. Only answers b and c are correct
1l. If a monopolistically competitive firm is incurring losses, then at the profit-max a price is above the average total cost curve. b. price is below the average total cost curve c. price is equal...
1l. If a monopolistically competitive firm is incurring losses, then at the profit-max a price is above the average total cost curve. b. price is below the average total cost curve c. price is equal to marginal revenue. d. price is less than marginal revenue. e. average total cost equals marginal cost. Both competitive and monopolistically competitive firms a. can maximize profit by raising price. b. cannot control or set their own price c. can maximize profit by producing to...
1. Which of the following is NOT a characteristic of a monopolistically competitive market?
1. Which of the following is NOT a characteristic of a monopolistically competitive market?A. many sellers.B. differentiated products.C. long-run economic profits.D. free entry and exit.2. Which of the following products is likely to be sold in a monopolistically competitive market?A. video games.B. breakfast cereal.E. beer.D. all of the above.3. Which of the following is true regarding the similarities and differences in monopolistic competition and monopoly?A. The monopolist faces a downward-sloping demand curve while the monopolistic competitor faces an elastic demand...
15. When marginal cost is less than average total cost, a. marginal cost must be falling....
15. When marginal cost is less than average total cost, a. marginal cost must be falling. b. average variable cost must be falling. c. average total cost is falling. d. average total cost is rising. 16. Which of the following is not a characteristic of a competitive market? a. Buyers and sellers are price takers. b. Each firm sells a virtually identical product. c. Entry is limited d. Each firm chooses an output level that maximizes profits. 17. If a...
When consumers have to buy a good from a monopolist rather than a firm in a...
When consumers have to buy a good from a monopolist rather than a firm in a perfectly competitive market, they will have Select one: a. larger quantities b. higher quality c. higher prices d. more choices
36) When a monopolist sells the same product at different prices and the prices are not related to cost differences, we have B) price differentiation. D) monopoly pricing A) price discrimination...
36) When a monopolist sells the same product at different prices and the prices are not related to cost differences, we have B) price differentiation. D) monopoly pricing A) price discrimination C) marginal cost pricing. 37) 37) Monopolies misallocate resources because A) price does not equal marginal cost B) profits are usually positive. C) marginal cost does not equal average total cost. D) price does not equal average total cost. 38) 38) Which of the following assumptions is true about...
47. Why must profits be zero in long-run competitive equilibrium a. If profits are not zero,...
47. Why must profits be zero in long-run competitive equilibrium a. If profits are not zero, firms will produce higher-quality goods. b. If profits are not zero, marginal revenue will rise. c. If profits are not zero, marginal cost will rise. d. If profits are not zero, firms will enter or exit the industry. 48. Resource allocative efficiency occurs when a firm a. minimizes costs of production yet charges the highest possible price. b. produces the quantity of output at...
Generally speaking, when marketers focus on customers for their lifetime value, they tend to earn higher...
Generally speaking, when marketers focus on customers for their lifetime value, they tend to earn higher profits initially and then lower profits as time goes on: A. TRUE. B. FALSE. The 4 Ps have to do with: A. The strategic business plan variables. B. The primary combination of Marketing “mix” variables. C. The primary marketing environment. D. The target market variable A targeting strategy in which an organization focuses on a SPECIFIC market segment...
1l. If a monopolistically competitive firm is incurring losses, then at the profit-max a price is above the average total cost curve. b. price is below the average total cost curve c. price is equal to marginal revenue. d. price is less than marginal revenue. e. average total cost equals marginal cost. Both competitive and monopolistically competitive firms a. can maximize profit by raising price. b. cannot control or set their own price c. can maximize profit by producing to...
15. When marginal cost is less than average total cost, a. marginal cost must be falling. b. average variable cost must be falling. c. average total cost is falling. d. average total cost is rising. 16. Which of the following is not a characteristic of a competitive market? a. Buyers and sellers are price takers. b. Each firm sells a virtually identical product. c. Entry is limited d. Each firm chooses an output level that maximizes profits. 17. If a...
36) When a monopolist sells the same product at different prices and the prices are not related to cost differences, we have B) price differentiation. D) monopoly pricing A) price discrimination C) marginal cost pricing. 37) 37) Monopolies misallocate resources because A) price does not equal marginal cost B) profits are usually positive. C) marginal cost does not equal average total cost. D) price does not equal average total cost. 38) 38) Which of the following assumptions is true about...
47. Why must profits be zero in long-run competitive equilibrium a. If profits are not zero, firms will produce higher-quality goods. b. If profits are not zero, marginal revenue will rise. c. If profits are not zero, marginal cost will rise. d. If profits are not zero, firms will enter or exit the industry. 48. Resource allocative efficiency occurs when a firm a. minimizes costs of production yet charges the highest possible price. b. produces the quantity of output at...
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