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Technology

What is meant by technological advance, as broadly defined?

1.) What is meant by technological advance, as broadly defined? How does technological advance enter into the definition of the very long run? Which of the following are examples of technological advance, and which are not: an improved production process; entry of a firm into a profitable purely competitive industry; the imitat

ABC is monopoly seller of aluminum in the U.S. and sells no aluminum on the world market. It sells aluminum domestically for $2500 per tom and its average cost is $2200 per ton.

Question 6: ABC is monopoly seller of aluminum in the U.S. and sells no aluminum on the world market. It sells aluminum domestically for $2500 per tom and its average cost is $2200 per ton. The world price is $2000 per ton. (High tariffs prevent foreign firms from exporting into the U.S.) True or False: "Obviously, ABC sho

Comparative advantage explained in this solution

I've attached the problem so please download the file. Suppose that the supply sides of France and Italy are each described by a simple Ricardian model with two goods, A and B. The technology is as follows. A B Labor France 4 2 200 Italy 2 4 200 Who has a comparative advantage in what? Who has an absolute

Porter's Five Forces Framework

The costs of producing steel declined substantially from building a conventional hot¬-rolled steel mill down to the new mini-mill technology that requires only scrap metal, an electric furnace, and 300 workers rather than iron ore raw materials, enormous blast furnaces, rolling mills, reheating furnaces, and thousands of worker

Decision Making

Have you been personally involved in the making of a decision for a business concerning what, how, or for whom? If yes, explain your rationale for making such decisions. Were these decisions guided by the market process, the command process, or the traditional process? Explain.

DECISION ANALYSIS

YOUR FIRM IS CONSIDERING INVESTING IN DEVELOPMENT OF A NEW TECHNOLOGY. IF YOU INVEST THE TECHNOLOGY, IT WILL REQUIRE AN OUTLAY OF $1.2 MILLION. IT IS UNCLEAR THAT THIS INVESTMENT WILL NECESSARILY RESULT IN A NEW TECHNOLOGY BEING DEVELOPED. YOUR ENGINEERS ESTIMATE THERE IS A 50% PROBABILITY THAT THE TECHNOLOGY WILL BE SUCCESSFUL.

Market Trends Paper

Economics, Microeconomics - Year 3 Describe market trends of Memorial Hermann Hospital. Address the following topics in your analysis: a. Prices b. Technology c. Productivity (consider the law of diminishing marginal productivity) d. Cost structure 1) Wages and benefits

Principles and Strategies

Currently international management at PM Company consists of one person. What specific management principles and practices should PM company begin to put in place that will assist the company as their international expansion plans move forward and their international business begins to grow? Post your answer to the discussion bo

profit-maximizing output level

You are the CEO of ClipIt, a paper clip manufacturer. Your company enjoys a patented technology that allows it to produce paper clips faster and at a lower cost than your only rival, FastenIt. Clipit uses this advantage to be the first to choose its profit-maximizing output level in the market. The inverse demand function for pa

Game Theory help

Suppose the market for computer chips is dominated by two firms: Intel and AMD. Intel has discovered how to make superior chips and is considering whether or not to adopt the new technology. Adoption would entail a fixed setup cost of C but would increase revenues. However, if Intel adopts the new technology, AMD can easily copy

Macroeconomic Multiple Choice Questions

1) Which of the following is a long -run macroeconomic policy goal? A) reduce unemployment (B) increase inflation (C) promote steady growth (D) eliminate recession 2)If our exports are $1.2 billion and our imports are $1.7 billion A)the United States is lending to the rest of the world(B) U.S national saving is too high (C)

Microeconomic topics - taxation

1. The cost of taxation to society includes: a. the expansion of consumer surplus. b. the expansion of producer surplus. c. the direct cost of the money paid to government. d. a lowering of the cost of exports. 2. An example of the benefit principle of taxation is: a. rich taxpayers should pay more than poor ta

Short Run Production Functions

Graph and explain what the effects would be (short run production function) if a new advanced process was discovered. How would the number of workers hired (variable input) change? This is a profit maximizing firm, also explain the profit maximization condition the firm uses.

Finding most efficient combinations of labor and capital as their prices vary.

A. Problem III: (each part counts for 5 points) Semiconductor integrated circuits (ICs or "chips") are manufactured by building up layers of circuitry on silicon wafers. To fabricate chips, each layer must line up precisely with the patterns of other layers. To align layers, firms employ a combination of capital equipment and

Information systems changing organizations

Describe how information systems are changing various aspects of the accounting profession. Include a description of a variety of new technologies and their effects on accounting processes. In addition, discuss how these technologies have changed the way accounting is performed at your organization or an organization of your cho

Investment decision

XYZ plc operates in the paint industry. XYZ is considering to renew its technology, and to do so, a new machine needs to be bought. There are two types of machines. Machine 1 costs £10,000 and has a 3 year lifetime. Machine 2 costs £1,000 and has a 2 year lifetime. Both machines have nil scrap values at the end of their lifeti

General equilibrium theory efficiency

Consider an economy that uses labor and capital to produce two goods, beer (x) and peanuts (y), subject to technologies that exhibit constant returns to scale. The marginal cost of a 12-ounce can of beer is $0.50. The marginal cost of a 12-ounce tin of peanuts is $1.00. Currently, the economy is producing 1 million 12-ounce cans

IBM's activity in India

I need assistance to develop enough information/research to come up with a minimum of 5 pages that address EACH of these questions specifically. Please list references/resources so that I can complete the research. I would like to focus on IBM for this project. 1. Explain firm's activities outside the U.S. 2. Identify