Part 1

Head towww.bls.govand selectMultifactorProductivityfrom the Subject drop-down menu.Scroll down and select the link to the file below or choose your own - as long as you use a fairly recent report, it will not impact your answers.

Multifactor productivity decreases 1.7% in 2020, following a 0.7% increase in 2019

1. What has been the general trend for multi-factor productivity in the U.S. over the past 15 years?
2. What does this trend suggest has happened to production functions in the U.S.?
3. Assuming this change in productivity has happened to all firms, how will this change in productivity affect cost curves?

Part 2 - Costs

Walmart: Competitive wonder or community nightmare?

One of the most successful firm in US retailing during the last decade is Walmart.Use the links below andanswer/addressthe following:

• Has Walmart's success fulfilled the virtues/characterization of competition often discussed (e.g., lots of firms, low prices, low entry barriers - see chapter 9)?
• Has there been an economic/social cost of Walmart's success?
• List the problems allegedly caused by Walmart for its employees, local communities, consumers, and the environment.
• Discuss the most serious charge against Walmart
• Discuss the most significant benefit Walmart offers

Find out what the critics contend at:http://www.walmartwatch.com/

Find out how Walmart responds at:http://www.walmartstores.com/

Feel free to use other sources as well.