This paper examines the impact of transaction costs on economic welfare and development. We extend the static model of Romer (1994), in which transaction costs reduce welfare by the reducing the equilibrium number of intermediate goods, and estimate the welfare losses in the case of domestic...

This article discussed the main characteristics of the Russian smartphone yotaphone, sources of financing of the project , highlights some of the cost of advertising and the production of the smartphone , the prospects of development of Russian market of mobile devices.