ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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1. Why is innovation so important for firms to compete in many industries?
2. What are some of the advantages of technological innovation? Disadvantages?
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- Answer correctly and fast please Which of the following is one of the three factors contributing to high levels of entrepreneurship in the United States? a. Advances in technology b. Social pressure toward traditional employment c. Rapid job growth at large companies d. Limited funding e. Stagnant technologyarrow_forwardEconomists typically assume that when making decisions, the owners of firms wish to maximize A. production efficiency B. short-term accounting profits. C. sales revenues. D. long-term economic profits.arrow_forwardexplains why business should be ethical and why not all businesses are ethical.arrow_forward
- 1arrow_forward3. The company that you manage has already spent $8 million on developing a new product – awebsite that combines You Tube, Twitter, and Facebook – called You Twit Face. Thedevelopment is not quite finished. It will cost an extra $2 million to finish development andcomplete the product. Assume that this $2 million amount includes the explicit costs and anyopportunity cost that the company may have. At a recent meeting, your salespeople report thatthe expected sales of your new product (if you finish) are $6 million total. If you do not finishdeveloping the product you can sell the incomplete product to another company for $2 million. What is the MC of finishing the development? __________________ What is the MB of finishing the development? __________________ Should you finish the product? Why or why not? Use the idea of “thinking at the margin” toexplain your answer. Need details explanationarrow_forward
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