11 Jun HOW DO MARKET DEMAND, COSTS, PRICING, AND COMPETITION IMPACT THESE OUTPUT STRATEGIES?
Economists assume that profit-maximizing firms operate in perfectly competitive markets. However, this assumption does not hold in today’s global market, as there are many reasons why markets are not perfectly competitive.
Refer back to the past three weeks, particularly to the principle of comparative advantage and production costs, and review the reasons why companies do not operate in a perfectly competitive market.
Post by Day 3 a 250- to 300-word statement that addresses the following:
What output strategies might U.S. companies implement to remain profitable when competing with international companies?
How do market demand, costs, pricing, and competition impact these output strategies?
Read a selection of your colleagues’ postings.
Respond by Day 6 to two or more of your colleagues’ postings in one or more of the following ways:
Ask a probing question.
Share an insight from having read your colleague’s posting.
Offer and support an opinion.
Make a suggestion.
Expand on your colleague’s posting.
Return to this Discussion in a few days to read the responses to your initial posting. Note what you learned and the insights you gained as a result of the comments your colleagues made.
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