Second Mover Advantage : when you wait until one of your rivals make a move, then you make a better move. So, Facebook has had a makeover, now so too has the world's number 1 social network.
A new view here and for those who prefer to do their homework on the 627, there is a new clearer mobile version too.
Enjoy
HW due on Monday 17th October
1) be the fastest to draw consumer surplus on the whiteboard - competition on Monday or Tuesday.
2)
From the BBC and Ch4 video explanations
http://www.bbc.co.uk/news/business-12124632 BBC
http://www.channel4.com/news/world-food-prices-hit-all-time-high Ch4
Anforme has a blog post on the topic including a nice graphic
http://www.anforme.co.uk/blog/?p=1783
a) Using a S&D diagram, explain why world food prices are rising. (Hint: If you can't do this, then the answer is on this economicshelp posthttp://www.economicshelp.org/blog/economics/food-inflation/ )
b) Using a S&D diagram, explain why the price of cotton clothes are likely to rise
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