答案和详解如下：

1．All of the following are things that may create competitive advantage EXCEPT:

A)   barriers to entry.

B)   more efficient resource utilization.

C)   barriers to exit.

D)   patents.

The correct answer was C)

Barriers to exit would not create a competitive advantage for a firm.

2．Stuck-in-the middle firms:

A)   compete on par with those that have achieved either product differentiation or cost leadership.

B)   will always be below average performers.

C)   can be above average performers given a favorable structure of the industry.

D)   ultimately exit the industry because they cannot compete effectively.

The correct answer was C)

In spite of being stuck in the middle, if the industry structure is favorable, such firms can earn higher than average returns. However, this may not be sustainable over the long term if consumer tastes change over time.

3．The risks associated with the generic competitive strategies do NOT include:

A)   existence of intense competition.

B)   more than one firm attempting to become the cost leader and getting stuck in the middle.

C)   inventing new products that are costlier to produce.

D)   failure to achieve product differentiation parity.

The correct answer was C)

Developing or inventing new products that cost more to produce is not one of the risks of the generic competitive strategies. If the new products deter competition and offer greater benefit to consumers despite their higher cost of manufacture, they can offer a product differentiation opportunity to the firm for exploiting a market segment, which values those products.