You need read the case carefully and follow the outline and instruction write a 200 words answer. Read the ppt carefully and understand what is ERRC and must write with ERRC and follow the outline, and asnwer all the outline .Question: Apply the ERRC framework to Marvel Studios and the way they set up the business (set this up as a figure and explanations). Explain also how those ERRC choices allowed them to break the cost-value tradeoff.Outline1.ERRC – Eliminate, Reduce, Raise, CreateEliminate-wasteful spendingReduce-movies produced by outside studiosRaise-corporate culture ? innovationCreate-create value in storytelling and relatable characters2.Choices lead to break cost-value tradeoff-reduce cost-increased value