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Author Question: The process of "creative destruction" in an oligopolistic industry suggests that (Read 63 times)

ksmithunr

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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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Marked as best answer by ksmithunr on Oct 12, 2022

DevinBrifm

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ksmithunr

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Reply 2 on: Oct 12, 2022
:D TYSM


xthemafja

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Reply 3 on: Yesterday
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