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Critical discussing how new technologies impact the equilibrium in product markets. Elaboration on the potential implications of this technology on the economy as a whole
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- This essay discusses how technologies affect the equilibrium in the product markets taking a microeconomic and macroeconomic approach. It focuses in the automotive sector, a mature industry, with extensive economy of scales, capital intensive and oligopoly competition but with some trend to perfect competition. Two kind of technologies are discussed: Technology that impacts the supply curve. It is considered technologies…
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