f a firm succeeds in gaining a technological edge over its competitors, it is said to possess absolute advantage.A. TrueB. False

Answer: A. True

When a firm succeeds in gaining a technological edge over its competitors, it means that it can produce goods or services more efficiently or at a lower cost than its rivals. This capability allows the firm to outperform its competitors in the market, which is the essence of possessing an absolute advantage.

Absolute advantage refers to the ability of a party to produce a greater quantity of a good or service with the same amount of resources as compared to others. In this context, following advancements in technology that enhance production processes, efficiency, and overall output can significantly contribute to a firm's competitive position in the industry. Therefore, the statement is true.