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0. Assertion (A): A firm’s relative position within its industry determines whether the firm’s overall profitability is above or below the industry average. Reasoning (R): The fundamental basis of average profitability, in the long run, is a sustainable competitive advantage.
(A) and (R) both are correct and (R) is the right explanation of (A).
(A) and (R) both are correct but (R) is not the right explanation of (A).
(A) is correct but (R) is incorrect.
(R) is correct but (A) is incorrect.
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