PART A Which of the following is not a valid statement? Multiple Choice ...
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Accounting
PART A
Which of the following is not a valid statement?
Multiple Choice
Companies that consistently earn rates of return above the floor are said to have a competitive advantage.
Competition in an industry continually works to drive down the rate of return on assets toward the competitive floor.
Rates of return that are higher than the industry floor stimulate more competition as existing companies innovate and expand their market reach or as new companies enter the industry.
Competitive ceiling is the rate of return that would be earned in the economists "perfectly competitive" industry.
PART B
Strategies to gain a competitive advantage include product differentiation and
Multiple Choice
improving product quality and reliability.
low-cost leadership.
building brand loyalty.
developing superior products.
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