Answer:
d. firm-specific strengths that allow a company to differentiate its products from rivals or achieve lower costs than rivals.
Explanation:
Competitive advantage refers to the ability of a country or a company to produce a good or service using fewer inputs compared to its rival. The company can manufacture a larger quantity of goods using the same amount of factors of production as others.
Distinctive competencies are unique skills, methods, and practices that increase the competitiveness of a business. They are the specials traits that give an organization an advantage over competitors in producing a particular good or service. Distinctive competence may be core skills, technology, or methodology that competitors cannot replicate easily.
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Answer:
Explanation:
Firms are very large relative to the market- INCORRECT, this is a feature of Monopoly market.
Entering and exiting the market are relatively easy - CORRECT, new firms can freely enter the industry or in the long run, an existing firm can freely leave the industry.
Firms are price takers, or they have no control over price- CORRECT ,a single firm in a perfectly competitive market cannot influence the market price through its own independent action. Each firm sells its products at an existing market price.
Firms produce differentiated products- INCORRECT, this is a feature of an Oligopoly market.
Firms produce similar or standardized products- CORRECT, all products are homogeneous.
Firms have significant price control-INCORRECT, this is a feature of Monopoly market.
Answer:
a) Compounding Period = 1 year
Compounding Frequency = 12 months
b) 12.68%
Explanation:
See attached picture.