Question

In order to achieve a competitive advantage, a firm should be able to Group of answer choices increase its payable turnover. keep its producer surplus low. increase the difference between the value created and the cost to produce it. increase the difference between consumer surplus and its profits.

Answer 1

increase the difference between the value created and the cost to produce it.

Step-by-step explanation:

The competitive advantage refers to the advantage gained by the company as compare with the competitors. It can be in terms of bringing innovative ideas with related to the product i.e excellent services, reasonable price, attractive product, optimal quality and quantity so that the customer could satisfied with our product which helps the company to capture the maximum market

So it could be achieved by taking the difference of cost and the value created