If a firm has a service that is valuable, rare, and costly-to-imitate, but a substitute exists for the service, the firm will

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19-08-2020
Business

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If a firm has a service that is valuable, rare, and costly-to-imitate, but a substitute exists for the service, the firm will

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ogechukwubenedict ogechukwubenedict · Answer 1 · 2020-08-23T04:04:11+02:00

Answer: the firm will have a temporary competitive advantage

Explanation: The firm in question would have a temporary competitive advantage. Competitive advantage describes something that places a company or business or a person above the competition such as value, rarity, difficult/costly-to-imitate amongst others. However, where a substitute is already in existence for such service, then the firm would have a temporary competitive advantage.