Final answer:
Cost leadership can be a competitive advantage when a company can produce a particular good or service in a more cost-effective manner than its competitors. By having lower costs, the company can either offer products at lower prices or earn higher profit margins.
Step-by-step explanation:
Cost leadership can be a competitive advantage when a company can produce a particular good or service in a more cost-effective manner than its competitors. By having lower costs, the company can either offer products at lower prices or earn higher profit margins. This can attract more customers and increase market share. For example, Amazon is able to offer lower prices than its competitors due to its efficient production model and cost structure.