In order to achieve a competitive advantage,a firm should be able to
A) increase its payable turnover.
B) keep its producer surplus low.
C) increase the difference between the value created and the cost to produce it.
D) increase the difference between consumer surplus and its profits.

Question

Quizplus · Accepted Answer

Competitive advantage goes to the firm that achieves the largest economic value created, which is the difference between V, the consumer's willingness to pay, and C, the cost to produce the good or service.

In Order to Achieve a Competitive Advantage,a Firm Should Be