Technological development has a great significance in the hospitality industry, specifically in the food and beverage department, and particularly in the differentiation of supply and price leadership. Technological development through the 20th century and the beginning of the 21st century led...

In this paper, a theoretical relationship is obtained to measure the effect that inefficiency has on marginal costs, degree of economies of scale and technical change. It is shown that when the relationship between inefficiency and output level is ignored, the estimation of marginal costs and...

The number of economics professors now teaching at universities will decline substantially over the next couple of decades. This will happen for one main reason--the advent of distance learning, especially in the form of Massive Open Online Courses (MOOCs), which enable a single professor to...