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Solnce55 [7]
3 years ago
11

A small manufacturer of office equipment faces new competition from foreign firms. In response, the company is MOST LIKELY to do

which of the following? A buy the foreign companies B improve the quality of its product C impose a tariff on the foreign products D raise the price of its product
Advanced Placement (AP)
1 answer:
ahrayia [7]3 years ago
7 0

Answer:

B. improve the quality of its product

Explanation:

Competitive advantage can be defined as conditions, factors or circumstances that allow a business firm (organization) to manufacture finished goods or services better and perhaps cheaper than other (rival) firms in the same industry. Thus, it's responsible for putting a business firm in a superior or more favorable position than rival firms.

This ultimately implies that, a competitive advantage has a significant impact on a business because it increases its level of sales, revenue generation and profit margin when compared to rival firms in the same industry.

In this scenario, a small manufacturer of office equipment faces new competition from foreign firms. Thus, the company is most likely to respond to this competition by improving the quality of its product so as to increase value proposition.

In conclusion, competitive advantage is a feature that makes a customer to place a greater value on the product or service of a particular company than they do on similar products or services from its competitors (rivals) in the same industry.

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The correct answer would be option B, A percent of its assessed value.

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Explanation:

Market value is basically an estimate, an opinion, about the percentage price of the fair value of the property or anything.

When estimates and opinions are made about the selling price of the property in the competitive market, actually the Market value of that property is assessed. The market value of the property is assessed on the following criteria:

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On the basis of the above criteria, the market value of the property is assessed.

Learn more about Market Value at:

brainly.com/question/13129347

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