Answer to Question #334090 in Microeconomics for Rumor

Question

The resource-based vuew of the firm is a new paradigm that suggests a firm's sustainable competitive advantage depend heavily on the form's resources and how they are used. Present the key concepts of these theoretical paradigm. Use examples to demonstrate related phenomena and discuss how they suggest directions for expanding the scope of optimisation models for supply chain management especially when they are linker to "shadow price" and taxonomy of resources. Additiomally discuss how these theoretical concepts can be used in economic interpretation of optimal solutions.

Answer 1

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