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The What Went Wrong Feature in Chapter 13 Focuses on Wesabe

question 7

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The What Went Wrong feature in Chapter 13 focuses on Wesabe, a Web-based company that was launched in 2006 to help people manage their personal finances. According to Marc Hedlund, one of Wesabe's cofounders, the company failed for two primary reasons. First, it misunderstood its users. Second:

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Definitions:

Equilibrium Wage

The wage rate at which the quantity of labor demanded by employers equals the quantity of labor supplied by workers, resulting in no labor surplus or shortage.

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To immigrate means to move into a country from another one to live permanently.

Minnesota

A state in the Midwestern United States known for its lakes, forests, and vibrant cultural scene, as well as its contributions to industry, agriculture, and education.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision or choosing one option over another.

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