Four conditions mutually exclusive but jointly sufficient

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1. Are the four conditions “mutually exclusive but jointly sufficient”? What happens if a resource meets some but not all of the conditions? Could two conditions be used to indicate the same attribute of a resource? Are there any more requirements to be met to generate SCA?

2. What is competitive advantage and when is it sustained? We said there are two ways to measure SCA – it as Ricardian rents or as PPDs/Economic value (i.e., WTP-cost). Are they really two distinct ways of thinking about SCA, or can you unify them and show that they are one and the same after all? Further, consider why PPD and economic value (i.e., WTP-cost) largely reflect the same basic idea.

Reference no: EM132230720

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