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What are the effects of innovation and technology on the cost of production

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DQ 1What are the effects of innovation and technology on the cost of production? How
does technology affect market structure and real-world competition? Which market
structure is best suited for technological innovation? Explain your answer. How
have technological innovations affected your organization?

DQ 2What factors influence a firm’s competitive strategies? How does
global economic competition affect the price elasticity in the domestic market
and decisions related to the strategy a firm uses to compete? Why do most
economists oppose trade restrictions? Who have been the winners and losers as a
result of the North American Free Trade Agreement? Explain your answer.

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