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Questions and Answers
Which of the following best describes a firm's competitive advantage?
Which of the following best describes a firm's competitive advantage?
- A firm's implementation of strategies that are difficult for competitors to duplicate (correct)
- A firm's ability to find strategies that are cheaper to imitate than its competitors
- A firm's strategy that is permanent and cannot be duplicated
- A firm's ability to imitate its competitors' strategies
What is the key factor in determining if a firm's strategy has resulted in a useful competitive advantage?
What is the key factor in determining if a firm's strategy has resulted in a useful competitive advantage?
- The firm's confidence in its strategy
- The speed with which competitors find skills to imitate the firm's strategy (correct)
- The time it takes for the advantage to last
- The firm's ability to cease or fail competitors' efforts to duplicate its strategy
What are above-average returns in terms of investment?
What are above-average returns in terms of investment?
- Returns that are higher than expected (correct)
- Returns that are lower than expected
- Returns that are similar to other investments
- Returns that are uncertain
How does effectively managing risks impact investors' uncertainty?
How does effectively managing risks impact investors' uncertainty?
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How are returns often measured?
How are returns often measured?
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