Microeconomics: Market Entry
Cheap Pearls (2/16/2001)
Far from increasing consumer surplus, falling prices for luxury goods such as freshwater pearls due to overproduction reduce both consumer surplus and producer profit.
Far from increasing consumer surplus, falling prices for luxury goods such as freshwater pearls due to overproduction reduce both consumer surplus and producer profit.
Commission Rush (5/9/2006)
Excessive entry of residential real-estate brokers has resulted in lowering the median income of brokers rather than the commission rate.
Excessive entry of residential real-estate brokers has resulted in lowering the median income of brokers rather than the commission rate.
Extreme Image Makeover (6/22/2006)
The successful emergence of once-slighted digital cameras has reshuffled the cast of major players in the photography business.
The successful emergence of once-slighted digital cameras has reshuffled the cast of major players in the photography business.
Firm vs industry output under free entry (6/23/2006)
Excessive entry under perfect competition reduces firm profit and firm output.
Excessive entry under perfect competition reduces firm profit and firm output.
Genericization as a Market Maker (1/14/2006)
The creation of a new market typically involves the simultaneous development of interlocking parts. Sacrificing the short-term gain for at least one part is often necessary to overcome initial supplier or buyer inertia.
The creation of a new market typically involves the simultaneous development of interlocking parts. Sacrificing the short-term gain for at least one part is often necessary to overcome initial supplier or buyer inertia.
Just-in-time Labor Division (1/14/2006)
Low cost contract manufacturing, online coordination among far-flung service providers and Internet viral promotion have propelled many startups into overnight empires.
Low cost contract manufacturing, online coordination among far-flung service providers and Internet viral promotion have propelled many startups into overnight empires.
