Long-lasting competitive advantages include
I.patents;
II.brand names;
III.economies of scale
A)I only
B)II only
C)I and II only
D)I, II, and III

Question

Quizplus · Accepted Answer

Patents provide legal protection for a company's inventions, allowing them to have exclusive rights to produce and sell those products, giving them a competitive advantage. Brand names are recognizable and associated with a certain level of quality, which can make it more likely for consumers to choose that product over competitors. Economies of scale allow a company to increase production while reducing costs, which can translate into lower prices for consumers and higher profits for the company, making it difficult for competitors to match their prices. Together, these factors create long-lasting competitive advantages for a company.

Long-Lasting Competitive Advantages Include