Asked by Dominic Gomez on May 02, 2024
Verified
Companies that consistently earn rates of return above the competitive floor in the industry are considered to possess a
A) dominant market share.
B) niche market.
C) competitive advantage.
D) monopolistic advantage.
Competitive Advantage
A factor that allows a company to produce goods or services better or more cheaply than its competitors, leading to a superior market position.
Dominant Market Share
Refers to the percentage of an industry or market's total sales that is earned by a particular company over a specified time period, highlighting the company's strength and leadership in the market.
- Understand the concept of a competitive advantage and strategies to achieve it.
Verified Answer
Learning Objectives
- Understand the concept of a competitive advantage and strategies to achieve it.
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