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