If a low-cost provider has invested heavily in its current means of operating,Multiple choice question.the company can quickly and smoothly adapt to new technologies and means of operation.it will be expensive for the provider to shift to a new technology.the company will not alter its technology, no matter how innovative a new system might be.the company will sustain a competitive advantage even if rivals adopt new cost-saving technological breakthroughs.

When companies pursue operations that require new capabilities,Multiple choice question.they are likely to find that new businesses across the value chain have the same success factors as their core operation.they are unlikely to experience difficulties realizing early profits from the new operations.they may find that the new operations require skills that the company lacks.they are likely to enhance their capacity to keep pace with changes in technology.

Select all that applyWhich of the following are good opportunities for a company to pursue a low-cost provider strategy?Multiple select question.when rivals offer virtually identical productswhen price competition among competitors is vigorouswhen competitors go out of businesswhen consumers use a product offered by rival companies in the same waywhen there is a shortage of high-priced brands

Advances in technology create new products and lower the cost of producing existing products.

Technological advance improves productivity in a purely competitive industry. This change will result in a(n):Multiple Choicedecrease in average fixed cost for a firm in the industry.increase in average variable cost for a firm in the industry.increase in the marginal cost curve for a firm in the industry.increase in the short-run supply curve for a firm in the industry.

Select all that applyWhen there are improvements in technology at the supply stage of the value chain, a vertically integrated companyMultiple select question.may be required to incur high costs for abandoning old technologies in an effort to keep pace with suppliers.is likely to improve customer service by relying on older plants and technologies.will likely be in a good position to shop the market and purchase optimal products from suppliers.may need to continue producing suboptimal products rather than upgrading its technology.