6. Tony’s Pizza Shop is able to net $10,000 a week; this mak…

6. Tony’s Pizza Shop is able to net $10,000 a week; this makes the shop profitable. Its number one competitor, Leo’s Pies, is also profitable, netting $12,000 a week. Lil Anthony’s Pizza Palace nets $13,000 a week. Since Tony’s Pizza Shop is profitable, we can conclude that it has a competitive advantage in its industry.

5. Superior Screen Corp. incurs a cost of $750 to produce on…

5. Superior Screen Corp. incurs a cost of $750 to produce one unit of an OLED television. The company’s management has priced the product at $1,000 in the market. Considering the technological advancement of the television, customers perceive its value to be around $1,200. What is the economic value created in this scenario?