Using Two Graphs, Illustrate How a Positive Technological Change in the Market

question 193

Essay

Using two graphs, illustrate how a positive technological change in the market for notebook computers could eliminate short-run economic profit for a firm in that market.On the first graph, use a supply and demand graph to illustrate the positive technological change.On the second graph, use demand, ATC, MC, and MR curves to illustrate the elimination of economic profit resulting from the positive technological change.Explain what is taking place in each graph.

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Definitions:

Avoidant Personality Disorder

A psychiatric condition marked by significant social inhibition, feelings of inadequacy, and hypersensitivity to negative evaluation.

Criticized

The act of expressing disapproval or finding faults in something or someone, often including suggestions for improvement.

Histrionic Personality Disorder

A mental disorder characterized by a pattern of excessive emotionality and attention-seeking behaviors.

Narcissistic Personality Disorder

A mental condition characterized by a long-term pattern of exaggerated self-importance, need for admiration, and a lack of empathy for others.