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Home Q & A Board Other Fields Homework Help Business Economics
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akempire akempire
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A year ago
The process of "creative destruction" in an oligopolistic industry suggests that

▸ profits are driven to zero by the entry of new firms.

▸ there are no costs of exit in oligopoly.

▸ firms can enter and leave without incurring any sunk costs of entry.

▸ no firm can survive in the long run.

▸ the prospect of keeping the resulting profits provides an incentive for firms to innovate.
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Microeconomics

Microeconomics


Edition: 17th
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mamaputmamaput
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A year ago
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akempire Author
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A year ago
Smart ... Thanks!
jasonbourne
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Yesterday
You make an excellent tutor!
foxrcng11
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2 hours ago
Thanks
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