_____ Refers to Innovations in Products or Services That Typically

question 1

Multiple Choice

_____ refers to innovations in products or services that typically start small and end up completely replacing an existing product or service technology for producers and consumers.

• A)Disruptive innovation
• B)Organizational innovation
• C)Open innovation
• D)Culture innovation

Distinguish between different types of subsidies and their effects on firm output.

Understand the supply function and its derivation from production and cost conditions.

Recognize the significance of input prices on firm's production decisions and supply function.

Understand the implications of market structure on firm behavior, including perfect competition.