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By Ngo C., Ngo H.

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At the same time, higher fixed cost projects, which have lower variable costs in production, earn higher rates of return in large markets. 2. Market size and return with different levels of fixed costs. From the above discussion the level of fixed investment in a production system depends on the expectation of the level of uncertainty of production technology and the size of the market. When the outlook is stable and market size is large, production systems with high fixed 40 The Physical Foundation of Economics investment earn higher rates of return.

But then some nonpoisonous butterflies copied the colors, too, enjoying the protection while avoiding the expense of making themselves distasteful. When the mimics become too plentiful, the colors no longer conveyed information and no longer deterred the predators. ” (Pinker, 1997, p. 501) So the perceived uniqueness of copying information products in human societies is actually quite universal within living systems. Once we look at the living world from the entropy perspective, it can hardly be otherwise.

Microsoft is now a mature company in a rapidly evolving industry. Its success and the resulting high concentration of wealth within Microsoft has attracted litigation and other attempts to extract from it wealth and market share. 3. A Comparison with Neoclassical Economic Theory Since its birth, the foundation or “assumptions” of neoclassical economic theory has been criticized for its lack of relevance to reality. To this, Friedman replied: In so far as a theory can be said to have “assumptions” at all, and in so far as their “realism” can be judged independently of the validity of predictions, the relation between the significance of a theory and the “realism” of its “assumptions” is almost the opposite of that suggested by the view under criticism.

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