Consider the following statements. Which is true about product life cycle theory?   (I) In the early stages of the product life cycle, the demand for the new product is relatively insensitive to the price and thus a pioneering firm can charge a relatively high price.   (II) It predicts that over time the U.S. switches from an exporting country of new products to an importing country.   (III) When plotting "quantity sold" versus "time" in U.S. , the initial sharp increasing in production flattens out or even reduces over the time.   Group of answer choices   none of the others   (I), (II), (III)   Only (III)   Only (I)   Only (II)

We live in a world where computers and other items of technology seem to get ever cheaper to produce. Such technology is important in the production of a vast range of consumer goods.  We wish to analyse the impact of this phenomenon on two key pieces of economic data. The main impact of the decreasing cost of technology is that (select from consumption/investment/government spending/exports/imports/economy-wide production costs/wage costs) would (Select increase/decrease) This would shift the (Select one from the picture attached) which (Select: Increse or decreases the price level) and (Select: increases or decreases GDP) Suppose that the economy is now away from long run equilibrium (GDP is above Yf).  The way that the economy adjusts back to equilibrium is that (Select: interest rates/the exchange rate/factor prices such as wages/governement spending) (Select: Increases/decreases).  This shifts the (Select one from the picture attached)

Which of the following approaches is best suited to a global market where there is need but not the needed purchasing power to buy either the existing or adapted​ product?   A.   ​Product-communication extension​ (dual extension)   B.   Product​ extension-communication adaptation   C.   ​Product-communication adaptation​ (dual adaptation)   D.   Product​ adaptation-communication extension   E.   Innovation

All of these statements about the production function are true EXCEPT a) the curve features 3 distinct regions: increasing returns to scale, constant returns to scale, and diminishing returns to scale. b)the curve's shape matches and its description of the interaction between the graph's axes represents the law of diminishing returns c) it can be applied to many economic markets d) one variation is used to show the difference between firm and market specific risk

Identification. Answer the following questions below.

The time period in which producers cannot increase their use of economic resources to increase quantity supplied is the:   Multiple choice question.   immediate period.     short run.     long run.     fiscal period..

The per-unit cost of an item is its average total cost (= total cost/quantity). Suppose that a new cell phone application costs $250,000 to develop and only $0.60 per unit to deliver to each cell phone customer. Instructions: Round your answers to two decimal places. What will be the per-unit cost of the application if it sells 100 units? Per-unit cost = $1 What will be the per-unit cost of the application if it sells 1000 units? Per-unit cost $[ What will be the per-unit cost of the application if it sells 1 million units? Per-unit cost $

Consider the model of a firm that produces final goods using R&D and components as inputs, with cost dataas follows:Assembly: Total cost of production = PAQA = 400Earnings of High-Skilled Labor = WHHA = 100Earnings of Low-Skilled Labor = WLLA = 200Earnings of Capital = RKA = 100R&D: Total cost of production = PRQR = 400Earnings of High-Skilled Labor = WHHR = 175Earnings of Low-Skilled Labor = WLLR = 125Earnings of Capital = RKR = 100A) Which factor is assembly intensive? In which factor(s) is R&D intensive?B) Suppose that due to the opening of trade, the price of assembly falls by ∆PA/PA = −20%, the price of R&D remains unchanged, ∆PR/PR = 0%, and capital’s share earnings remains constant.C) What has happened to the relative wage of high-skilled/low-skilled labor? Does this match the predictions of the offshoring model?

Consider the model of a firm that produces final goods using R&D and components as inputs, with cost dataas follows:Assembly: Total cost of production = PAQA = 400Earnings of High-Skilled Labor = WHHA = 100Earnings of Low-Skilled Labor = WLLA = 200Earnings of Capital = RKA = 100R&D: Total cost of production = PRQR = 400Earnings of High-Skilled Labor = WHHR = 175Earnings of Low-Skilled Labor = WLLR = 125Earnings of Capital = RKR = 100A) In which factor(s) is assembly intensive? In which factor(s) is R&D intensive?B) Suppose that due to the opening of trade, the price of assembly falls by ∆PAPA= −20%, the price of R&Dremains unchanged, ∆PRPR= 0%, and capital’s share earnings remains constant.C) What has happened to the relative wage of high-skilled/low-skilled labor? Does this match the predictions of the offshoring model?