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Suppose you are a firm in a competitive industry in which consumer preferences are identical. All firms have the same cost of producing the good,
Suppose you are a firm in a competitive industry in which consumer preferences are identical. All firms have the same cost of producing the good, which is 50. Customers derive 70 of benefit from the good. It is a competitive market. Which of the following options would best offer the potential for a competitive advantage? Group of answer choices Innovate such that benefit=100 and cost=85 Innovate such that benefit=120 and cost=100 Innovate such that benefit=50 and cost=20
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