Which statement about market structure and innovation is true? a. Innovation helps only dominant firms. b. Innovation

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Which statement about market structure and innovation is true?

a. Innovation helps only dominant firms.
b. Innovation keeps new firms from ever catching up with leading firms.

c. Innovation often leads to creative destruction and the replacement of established firms by new firms.

d. Innovation always leads to entrenched monopoly power.

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Microeconomics Principles, Problems and Policies

ISBN: 978-1259450242

20th edition

Authors: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn

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Question Posted: Apr 24, 2018 06:38 AM

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Which statement about market structure and innovation is true? a. Innovation helps only dominant firms. b. Innovation

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c Innovation often leads to creative destruction and the replacement of est...View the full answer

Microeconomics Principles, Problems and Policies

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