Reference no: EM132213264

You are a junior executive of a new cellular phone carrier called Technologies of the Future (TOF) that competes in the same market as Verizon Wireless, AT&T, and Sprint. The goal of your research is to demonstrate before Committee Board Members of TOF to determine the firm's efficiency and how additional market shares can be acquired. Your findings are crucial to the firm; plus, based on your analyses, you will be considered for a top executive position with TOF. Your goal is to provide the Committee Board Members of TOF with a proposal to either expand or remain and the current level of production. Now, your goal is to write professional document that demonstrates the following key points given below:

• Discuss how the four factors of production relate to the Production Possibilities Curve.
• If TOF had the choice to either produce consumer goods or capital goods, explain what is meant by the Production Possibilities Curve, and explain points that would be efficient, inefficient, and an unattainable point.
• Discuss how inefficient and unattainable can be experienced.
• Define Comparative and Absolute Advantage.
• State whether TOF has a comparative or absolute advantage if they possess over 30% of the domestic market in the United States. (Note: we are discussing the production and sale of smartphones and service plans by TOF in the United States only.)