Nordstrom, an upscale department store, has a well-known reputation for going the extra mile to serve its customers. This reputation for excellent customer service will most likely result in a sustainable competitive advantage.
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Explanation:</u></h3>
When a firm offers its customers with any products that has higher quality and benefits or lower price that its competitors then it refer to the competitive advantage. It is the advantage that the firm attains when compared with their competitors.
There are many different kinds of competitive advantage that can be used by a firm such as cost, product differentiation, niche strategies, etc. It is the thing that is absent in the competitors. In the given example, Nordstrom has well known reputation for the service that it gives for its customers and hence it is the likely result of sustainable competitive advantage.
Answer:
Interest will be $5000
So option (A) will be correct option
Explanation:
We have given principal amount P = $500000
Rate of interest = 6 %
Time is November 1 to December 31
So time = 2 months = 0.1666 year
Interest is given by
Interest 
So option (a) will be correct option
Answer:
The correct answer is: Typically, some resources are better suited for producing one good than another, which means that there are diminishing returns when moving such resources away from producing what they are best suited for.
Explanation:
A production possibility curve shows the different combinations of two goods that can be produced using all the given resources. Since resources are scarce, to increase the production of one good we need to decrease production of the other.
But resources are specialized and cannot be perfectly substituted between their two uses. So as we go on increasing production of one good the opportunity cost of sacrificing its alternative goes on increasing.
Because of this increasing opportunity cost the shape of the frontier is downward sloping, bent outwards and concave to the origin.
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