Chapter 2


Table of Contents

“For an economist the real world is often a special case.”

Edgar R. Fiedler

“Unfortunately, theory is silent on exactly when the long run arrives.”

Sam Peltzman


An understanding of economics is important for the technical executive, as decisions influenced by changes in both micro- and macroeconomic indicators have direct implications on costs, as well as markets, both domestically and abroad. Specifically, ...

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