Please answer the following multiple choice questions. Thank you

Question 18 (1 point) Which of the following options is determined by the difference between what a customer is willing to pay for a firm's products or services and the full economic cost of these products or services? Q value proposition. 0 cost advantage. Q value 0 competitive advantage. Question 19 (1 point) A firm who's economic value generated is less than that of their rival's is an example of a competitive ( ). O advantage. O parity. O disadvantage. O perceived benefit. Question 20 (1 point) Which of the following examples reiterates the importance of students studying strategy and the strategic management process? Studying strategy and the strategic management process can give students tools to evaluate the strategies of firms that may employ them It can be very important to a new hire's career success to understand the strategies of the firm that hired them and their place in implementing these strategies. O While strategic choices are generally limited to very experienced senior managers in large organizations, in smaller and entrepreneurial firms many employees end up being involved in the strategic management process. O All of the above. Question 21 (1 point) In the hardwood furniture industry, composite wood furniture would be an example of which of the following options? 0 substitute. 0 rival. O new entrant. O complementor. Question 22 (1 point) When considering the topic of competitive parity and competitive advantage, which of the following options is accurate? Some firms develop valuable, rare, and costlytoimitate resources and capabilities in being efficient second movers, that is, in rapidly imitating and improving on the product and technological innovations of other firms. Firms that benchmark their performance against the performance of successful competitors can expect to develop at least a temporary competitive advantage. 0 Firms must be first movers to gain competitive advantages. 0 Even if all a firm does is create value in the same way as its competitors, the firm can expect to earn at least a temporary competitive advantage