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Comparative advantage
centers on producing goods or
services more efficiently than
competitors.
Competitive advantage is
a business's ability to
differentiate itself or
outperform its competitors,
often through
innovation, speed to market,
quality, or customer service.
These advantages enable
businesses to outperform rivals
and achieve higher profit
margins. Both are crucial for
long-term success. A business
might use a differential
advantage, which refers to
unique attributes setting it
apart. These can be used
together to build a lasting edge
in the market.
Joke about Comparative
Competitive Advantage
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