Can you help me with these questions?

1. Ritzy is a producer of snack foods. To gain an advantage over other snack food makers, Ritzy focuses on reducing its costs below all of its competitors and has aligned its value chain accordingly. Recently, several of Ritzy's competitors have begun to reduce the company's competitive advantage. In response to this threat, Ritzy has decided to add production capacity in an effort to lower costs. If Ritzy were to choose to narrow its product line in an effort to reduce costs, this would be an example of

technological software.

a policy choice.

a competitive advantage.

a learning-curve effect

2. Ritzy is a producer of snack foods. To gain an advantage over other snack food makers, Ritzy focuses on reducing its costs below all of its competitors and has aligned its value chain accordingly. Recently, several of Ritzy's competitors have begun to reduce the company's competitive advantage. In response to this threat, Ritzy has decided to add production capacity in an effort to lower costs. By increasing production volume in an effort to reduce costs, Ritzy is pursuing which sources of cost advantage?

Size differences and diseconomies of scale

Differential access to productive inputs

Size differences and economies of scale

Technological advantages

Ritzy is a producer of snack foods. To gain an advantage over other snack food makers, Ritzy focuses on reducing its costs below all of its competitors and has aligned its value chain accordingly. Recently, several of Ritzy's competitors have begun to reduce the company's competitive advantage. In response to this threat, Ritzy has decided to add production capacity in an effort to lower costs. By employing a low-cost competitive strategy, Ritzy has made itself

less able to withstand industry price wars.

more vulnerable to rivals

less vulnerable to the power of suppliers.

more vulnerable to the power of buyers

17. All of the following are ways that a firm can gain a cost leadership advantage except:

Implementing size differences and economies of scale

Leveraging low-cost access to productive inputs for products

Acquiring technological advantages that are independent of scale

Creating products with leading premium priced materials.

28. High quality objectives are those that are

difficult to measure.

tightly connected to elements of a firm's mission.

not quantitative

difficult to track over time.

31. A cost leadership firm would likely market the style, uniqueness, and performance of its product or service

True or false

33. Which of these are NOT a focus for strategy implementation under cost leadership?

Customer Value

Innovation

Reducing a firm's cost

Increasing a firm's efficiency

34. LTech makes industrial lasers and has a new, patented technology that allows its customers to manufacture their products with a higher level of consistency and at a lower cost than they could previously. LTech's executives believe that no rivals have a similar technology and that it would be very difficult for rivals to copy this technology since the benefits of the new technology can only be realized within LTech's system, which includes processes protected by trade secrets, making it difficult for rivals to understand the relationship between the company's new technology and its competitive advantage. If LTech's new technological development were due to proprietary investments it made when it was first founded twenty years ago, this would be an example of

path dependence

tacit collusion.

causal ambiguity.

social complexity.

38. More than Meat's development of an extensive offering of meat substitutes (e.g., substitutes for beef, chicken, pork, turkey, and lamb) that is unmatched by any other food company is an example of which element of the VRIO framework?

organization

value

rarity

imitability

40. A firm's product differentiation decreases the chances of competitors duplicating its products at a low cost.

true or false

47. The best example of a firm responding to cultural trends in the general environment is

a. Wendy's offering a "2 for $1" value menu when the U.S. is in a recession

b. Chick-fil-a adding calorie labels to their menu due to passage of the Affordable Care Act by Congress.

c. Burger King putting up billboards in Spanish in Texas, Florida, and California

d. McDonald's deciding not to use genetically modified (GMO) potatoes to make their French fries.

50. If AgriGrower and TopCrop compete in the same market for the same customer and AgriGrower generates $900 of economic value each time it sells a product or service while TopCrop generates $400 of economic value each time it sells a product or service, AgriGrower has a competitive advantage of

$1300

$3600

$360,000

$500