Discuss the Two Uses of Force-Field Analysis and Their Benefits

question 58

Essay

Discuss the two uses of force-field analysis and their benefits to the change management process.

Explain the difference between absolute and comparative advantage.

Apply the concepts of opportunity cost and comparative advantage to analyze trade patterns between countries.

Understand the role of factor endowments in determining comparative advantage.

Describe the impact of technology on national comparative advantages.

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Definitions:

Average Total Cost

The sum of average fixed costs and average variable costs, divided by the total quantity of output, reflecting the per-unit cost of production including all expenses.

Marginal Cost

The hike in aggregate cost linked with the fabrication of one extra unit of a product or service.

Marginal Revenue

The additional income received from selling one more unit of a good or service, critical in determining optimal production levels.

Average Variable Cost

The total variable cost divided by the quantity of output produced, indicating the variable cost of producing each unit.