Economic Value Creation This activity is important because it reviews the concept of economic value creation when measuring competitive advantage The goal of the activity is to learn how economic value creation helps a firm measure competitive advantage Familiarize yourself with the text material from economic value creation before completing this exercise Complete the activities that follow Reference the following costs as you complete the exercise that follows cost to produce a pizza $7 price charged to customer for the pizza $10 maximum price the consumer would be willing to pay for the pizza $12 Match each question to its correct cost response Match each of the options above to the items below How much is the consumer surplus How much is the consumer surplus Open choices for matching How much is the producer surplus or profit How much is the producer surplus or profit Open choices for matching How much is the economic value created How much is the economic value created Open choices for matching How much is the cost to produce the product or service How much is the cost to produce the product or service Open choices for matching What is the amount of the reservation price

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Question: Economic Value Creation This activity is important because it reviews the concept of economic value creation when measuring competitive advantage. The goal of the activity

Economic Value Creation

This activity is important because it reviews the concept of economic value creation when measuring competitive advantage. The goal of the activity is to learn how economic value creation helps a firm measure competitive advantage. Familiarize yourself with the text material from economic value creation before completing this exercise.

Complete the activities that follow.

Reference the following costs as you complete the exercise that follows:

cost to produce a pizza - $7
price charged to customer for the pizza - $10
maximum price the consumer would be willing to pay for the pizza - $12

Match each question to its correct cost response.

Match each of the options above to the items below.

How much is the consumer surplus?
How much is the consumer surplus? Open choices for matching
How much is the producer surplus or profit?
How much is the producer surplus or profit? Open choices for matching
How much is the economic value created?
How much is the economic value created? Open choices for matching
How much is the cost to produce the product or service?
How much is the cost to produce the product or service? Open choices for matching
What is the amount of the reservation price?

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3. To understand that the first impression means a lot, and it takes a lot of energy to change this first impression.