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Question
Which of the following would be an example of a tacit resource?A. An oddsmaker who works for a large casino in Las Vegas and is correct 95 percent of the time
B. Hand-woven fabrics made by local shops
C. Chipset manufacturing machine bought by an electronics company
D. A distiller used to make malt liquor
Answer
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Related questions
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B. it becomes difficult for competitors to imitate.
C. the architecture on which the industry can focus its efforts is destabilized.
D. the product design is adopted by the majority of producers.
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When a technology's performance is plotted against the amount of effort and money invested in the technology, it typically shows slow initial improvement, then accelerated improvement, then diminishing improvement.
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The path a technology follows through time is termed as technology trajectory.
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B. technological spillover
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A. agglomeration economies
B. incubator economies
C. virtual economies
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Which of the following is true of externalities?
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B. They are only borne by individuals responsible for creating them.
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Technological innovations increase:
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Technological innovation decreases the amount of output achievable from a given quantity of labor and capital.
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The learning curve indicates that the more units a company produces of an item, the more each unit will cost.
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What are the factors that determine whether switching to a new technology will benefit a firm?
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Once a new product design becomes a dominant design:
A. the product is no longer profitable.
B. it becomes difficult for competitors to imitate.
C. the architecture on which the industry can focus its efforts is destabilized.
D. the product design is adopted by the majority of producers.
Q:
Iris is quite skeptical about new innovations and is most likely to adopt something new only after experiencing peer pressure to adopt the new innovation. However, she is not so risk averse that she will wait until all uncertainty of a new technology has been resolved; she is willing to accept a little uncertainty if her peers already use the product. Which of the following adopter categories does Iris belong to?
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Speeding Horse Inc., a leader in the video game console market, is making its new generation consoles backward compatible with its previous games. This means that:
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If a firm's objective is maximum market skimming, it will initially set a high price on new products.
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A. the firm must reduce its production capacity.
B. the firm should improve its efficiency to target the mass market.
C. the early majority market becomes saturated.
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