A firm can be said to have competitive advantage when it uses commonly available resources more efficiently.

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Competitive advantage is achieved when a firm is able to perform better than its competitors in terms of cost, quality, or innovation. One way to achieve this is by using commonly available resources more efficiently, such as optimizing production processes or improving supply chain management. By doing so, the firm can reduce costs and improve its overall performance, giving it a competitive edge over its rivals.

A Firm Can Be Said to Have Competitive Advantage When