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What must a cost-leadership strategy accomplish to be successful ?

  1. It must reduce the firm's cost below that of its competitors while offering adequate value.
  2. It must increase the firm's cost above that of its competitors while offering adequate value.
  3. It must reduce the firm's cost below that of its competitors while offering inferior value.
  4. Both $\text{(B)}$ and $\text{(C)}$
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  1. It must reduce the firm's cost below that of its competitors while offering adequate value.

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