Advanced technology and performance capabilities, consistent quality, availability in multiple colors and sizes, prompt delivery, technical support services, customer financing, distribution channels, or some other feature of importance to customers are examples of:

Multiple Choice

competitive advantage.

low$-$cost leadership.

differentiation.

product leadership.

$$

$20$X$320$X$220$X$1$Sales$$178,400$$$162,500$$$155,500$Cost of goods sold$115,000102,500100,000$Operating expenses$50,00050,00045,000$Operating income$13,40010,00010,500$

$$

In a common$-$size income statement for $20$X$3,$ the operating expenses are expressed as

Multiple Choice

$100\mathrm{.}0\%$

$43\mathrm{.}8\%$

$30\mathrm{.}3\%$

$28\mathrm{.}0\%$