Lecture 4 Notes.docx

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Department
Economics for Management Studies
Course
MGEC40H3
Professor
Jack Parkinson
Semester
Summer

Description
MGEC40 Lecture 4Benefits of using the market1 External supplier costs are lower due to scale economies scope economics and learning economies and enough competition exists so that there is a better price 2 Your own internal costs may fall due to Agency costsCosts related to goofing off on the jobCost of the lost output due to goofing and cost of the firm trying to reduce the goofing off Influence costsCosts of misallocation and things like having a bigger office with a bigger titleProblems of mergers and acquisitionsMergers may drive up costsAdvantages of vertical integration1 Entry deterence entry of new firms ex selling branded UTSC mugs Didnt want to ente
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