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What are the effects of innovation and technology on the cost of production? How does technology affect market structure and real-world competition? Which market structure is best suited for technological innovation? Explain your answer. How have technological innovations affected your organization?

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Joshua Stredder
Joshua StredderLv10
28 Sep 2019
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Related questions

Discussion

Recent innovations are increasing productivity. Go to the Timeline of Historic Inventions atwww.wikipedia.org/wiki/Timeline_of_invention. Scroll down until you find the inventions made starting in the 1940s. Look at them and later inventions. Cite five "major" technological advancements and five relatively "minor" technological advancements (a list for each is fine). Then draft a response to the following question:

Since the 1940s, which technological innovation has increased productivity the most?

Be sure to use substantiate your claims as best as you can. You are free to integrate additional sources into your analysis (be sure to properly cite all sources).

Finally, conclude your post with a one-sentence statement describing what you believe to be a future technological advancement that will boost aggregate productivity.

What is the optimal system of intellectual property rights to encourage innovation?

Empirical evidence from economic history can help to inform important policy questions that have been difficult to answer with modern data: For example, does the existence of strong patent laws encourage innovation?

What proportion of innovations is patented?

Is this share constant across industries and over time? How does patenting affect the diffusion of knowledge?

How effective are prominent mechanisms, such as patent pools and compulsory licensing, that have been proposed to address problems with the patent system?

There are two existing firms in the market for computer chips. Firm A knows how to reduce the production costs for the chip and is considering whether to adopt the innovation or not. Innovation incurs a fixed setup cost of C, while increasing the revenue. However, once the new technology is adopted, another firm, B, can adopt it with a smaller setup cost of C/3. If A innovates and B does not, A earns $30 in revenue while B earns $10. If A innovates and B does likewise, both firms earn $20 in revenue. If neither firm innovates, both earn $10.

a) Under what condition (i.e., for what values of C) will firm B have an incentive to adopt if firm A adopts the innovation? Explain.

b) Under what condition will firm A innovate? Explain.

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