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Monopolists who vigorously seek to innovate ... [1] are irrational since they are competing with themselves. [2] could be profit maximising because they expect to
Monopolists who vigorously seek to innovate ...
[1] are irrational since they are competing with themselves.
[2] could be profit maximising because they expect to lower costs by innovation.
[3] do so out of fear of future competition or they would not innovate.
[4] do not exist because they have an entire market to themselves already.
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