A firm using a niche competitive advantage has an advantage that cannot be copied in the near future focuses on the strength of its brand name targets and serves a single segment of the market relies on experience curves to lower, costs A firm using a niche competitive advantage has an advantage that cannot be copied in the near future focuses on the strength of its brand name targets and serves a single segment of the market relies on experience curves to lower costs
Added by Darin R.
Close
Your feedback will help us improve your experience
Sanchit Jain and 65 other Microeconomics educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
All competitive advantages do not accrue to large-sized firms. A major advantage of smaller firms are that they ____ (A) have more loyal and diverse workforces. (B) can launch competitive actions more quickly. (C) are more likely to have organizational slack. (D) can wait for larger firms to make mistakes in introducing innovative products.
Sanchit J.
Consider a firm that has positive long-run economic profits, zero competitors, and a price that exceeds its marginal cost. What market structure best exemplifies this firm's industry? a. oligopoly b. monopoly c. perfect competition d. monopolistic competition
Andrew D.
A monopoly firm is different from a perfectly competitive firm in that: A monopolist can influence market price whereas a perfectly competitive firm cannot. A competitive firm has a u-shaped average cost curve whereas a monopolist does not. There are many substitutes for a monopolist's product whereas there are no substitutes for a competitive firm's product. A monopolist's demand curve is perfectly inelastic whereas a perfectly competitive firm's demand curve is perfectly elastic.
Azat N.
Recommended Textbooks
Principles of Economics
Principles of Microeconomics for AP® Courses
Economics
Transcript
18,000,000+
Students on Numerade
Trusted by students at 8,000+ universities
Watch the video solution with this free unlock.
EMAIL
PASSWORD