How Can the Internet Be Used for Competitive Advantage in Business

question 22

Essay

How can the Internet be used for competitive advantage in business? Describe three firms which are using the Internet for conducting business, and speculate as to the underlying technologies which might be in use in these firms. Will the Internet become an essential business tool like the telephone or will it go the way of the dinosaurs? What do you envision the Internet and web becoming in the future for businesses? Discuss.

Identify the characteristics and implications of different types of long-run supply curves in pure competition.

Analyze the impact of demand, cost, and industry adjustments on the equilibrium price and quantity in the long run.

Distinguish between constant-cost, increasing-cost, and decreasing-cost industries and their effects on long-run supply.

Recognize the conditions under which long-run equilibrium is achieved in a purely competitive market.

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