What is the best practices frontier how does this relate to


1. What is the best practices frontier? How does this relate to competitive advantage?

2. Explain why rent seeking competition tends to dissiapte rents-to drive them down so that there are no abnormal rents?

3. Jack Welch is heralded as a great leader of General Electri (GE). His strategy to acquire companies in different lines of business based on the requirement that each business in GE was to become #1 or #2 competitor in the industry is touted as being particularly brilliant. While very successful, could there have been a fundamental flaw in Welch's strategy?

 

4. What type of compensation policy would you expect to observe in an indutry with rapidly changing technology?

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Microeconomics: What is the best practices frontier how does this relate to
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