A resource is said to have a comparative advantage if: Group of answer choicesit is better suited to the production of one good than to the production of an alternative good.it is equally suited to the production of all goods.its suitability to the production of one good changes as it produces more of that good.its suitability to the production of one good does not change as it produces more of that good.

Comparative advantage exists when one person can produceSelected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer.amore of a good than another person can produce.ba good at lower opportunity cost than can another person.cmore types of goods than another person can produce.da unit of a good using fewer resources than can another person.emore of a good next year than it could this year.

When resources are allocated in such a way that it is possible to increase the production of one good without decreasing the production of another, then the allocation of resources is:Multiple choice question.inefficient.optimal.efficient.possible.

If in a market the last unit of output was sold at a price higher than marginal costGroup of answer choicesproducers are better off producing more.consumers are better off if less of the product is sold.social welfare is not maximised.the unit increased total profit.

1.  For a resource or capability to be competitively superior it;Group of answer choicesshould be easy to copycan be something that rivals also have in plentywill be common and widely availableshould have good substitutes availableshould be competitively valuable

A sustainable competitive advantage is gained when a companyMultiple Choicehas sufficient resources to expedite its strategy.has durable competitive assets that are central to its strategy and superior to those of rival firms.realizes its inherent weaknesses are transformable to advantages.can stand out relative to rivals because of resource utilization.has resources in well-populated geographical locations.