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?

Walmart: Competitive wonder or community nightmare?

One of the most successful firm in US retailing during the last decade is Walmart.

• Has Walmart's success fulfilled the virtues/characterization of competition often discussed (e.g., lots of firms, low prices, low entry barriers - see chapter 21)?
• 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

Any source can be used