Asked by Jesse Francis on Jul 19, 2024
Verified
In Scenario 1-1, what advantage will Larry have over his competition with his new product?
A) competitive advantage
B) comparative advantage
C) qualitative advantage
D) financial advantage
Comparative Advantage
The ability of an entity to produce goods or services at a lower opportunity cost than other entities, leading to more efficient trading opportunities.
Deer Hunter
A person who pursues deer as wild game, typically for food, sport, or management of deer populations.
- Examine the significance of developing a competitive edge.
Verified Answer
TK
Tanaya KellerJul 22, 2024
Final Answer :
A
Explanation :
Larry Linsuine's advantage over his competition with his new product, The Tree Hugger, stems from his unique offering in the market, which is a result of his years of experience and perfection of the tree stand for deer hunting. This creates a competitive advantage because it differentiates his product from others in the market, potentially making it more desirable to consumers looking for effective deer hunting solutions.
Learning Objectives
- Examine the significance of developing a competitive edge.
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