Imagine that you own your business. a) Think about your production process. Please explain the technology that you use in the production process. b) How do you think the technology that you use, affects the market structure and/or the demand of your product?

Imagine that you own your business. a) Think about your production process. Please explain the technology that you use in the production process. b) How do you think the technology that you use, affects the market structure and/or the demand of your product?

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter10: Financing And Producing Goods

Section: Chapter Questions

Problem 2AA

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Imagine that you own your business.

a) Think about your production process. Please explain the technology that you use in the production process.

b) How do you think the technology that you use, affects the market structure and/or the demand of your product?

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Imagine that you own your business. It does not need to be the same as in other questions, youare allowed to pick a different firm or product.a.Think about your production process. Please explain the technology that youuse in the production process.b.How do you think the technology that you use, affects the market structureand/or the demand of your product? Note that this question is NOT about howtechnology affects your production process, therefore, NOT about productivity, NOTabout the cost structure.