"Looking Closely at Cost and Competition"

Anonymous
timer Asked: Oct 17th, 2018
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Question Description

"Looking Closely at Cost and Competition"

Watch this video, Revenue, Profits, and Price: Crash Course Economics #24, to help you prepare for this week’s discussion.

Reply to the following prompts by using the company for which you currently work, a business with which you’re familiar, or the dream business you want to start:

  • Do you think it’s easy for your selected business to enter this same industry?
  • What are some key fixed, variable, implicit, and/or opportunity costs?

Tutor Answer

agneta
School: Carnegie Mellon University

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Running head: "LOOKING CLOSELY AT COST AND COMPETITION"

“Looking Closely at Cost and Competition”
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1

"LOOKING CLOSELY AT COST AND COMPETITION"

2

I work at a soft drinks company, and I think it is easy for the company to venture in the
pizza industry as well. The soft drinks company can use its expertise to run a business in the
pizza industry. The company already has expertise in economies of scale, and therefore it can be
an easy task to apply the same in a pizza bus...

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Review

Anonymous
Good stuff. Would use again.

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