Which of the following statements is false? Select one: a. Competitive advantage is based on some measurement such as cost, quality, or speed. b. Competitive advantage enables a company to function effectively within a market. c. Competitive advantage leads to higher-than-average profits. d. Competitive advantage requires the use of technology. e. Competitive advantage applies to companies of all sizes.

Competitive advantage refers to the situation when a company has some advantage in the production of goods or services over its rivals. It helps the company outperforming its competitors in the market.

It helps the company in providing the same products as its rivals at a lower price, or better products at the same price. As a result, the company earns relatively higher profits. It can be applied to any size of the company and is not restricted to large companies.

Competitive advantage can be based on several factors such as

Cost of the product
Quality of the product
Speed of production

The use of technology is not a necessary condition for a competitive advantage though it can be one of the aspects. A company may enjoy a competitive advantage in the market without possessing superior technology.