Dr Nick

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About Dr Nick

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Art & Design,Computer Science See all
Art & Design,Computer Science,Engineering,Information Systems,Programming Hide all
Teaching Since: May 2017
Last Sign in: 340 Weeks Ago, 1 Day Ago
Questions Answered: 19234
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Education

  • MBA (IT), PHD
    Kaplan University
    Apr-2009 - Mar-2014

Experience

  • Professor
    University of Santo Tomas
    Aug-2006 - Present

Category > Business & Finance Posted 20 Jun 2017 My Price 13.00

a company figures out how to make product X using less steel or less glass,

 If a company figures out how to make product X using less steel or less glass, assuming the end result has the same utility as the original product, then the company has created additional economic value, right? If a company leverages its bargaining power to force suppliers of steel or glass to lower their prices, has it created any economic value? If is does the same with respect to labor, has it created any economic value?Here's a concrete example. Company A makes product X and it sells for $10. Because this company has a captive work force (it's the largest employer in a small town), it is able to lower wages. It uses labor savings to lower the price of product X to $9. Has the company created any additional economic value?

 

Answers

Dr Nick
(4)
Status NEW Posted 20 Jun 2017 10:06 AM My Price 13.00

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