The process by which new firms and new products replace existing dominant firms and products is called
A) monopolistic competition.
B) mergers and acquisitions.
C) process innovation.
D) creative destruction.
Correct Answer:
Verified
Q43: If for a firm P = minimum
Q54: Which of the following outcomes is consistent
Q55: Entrepreneurs in purely competitive industries
A)have no incentive
Q56: The theory of creative destruction was advanced
Q58: In long-run equilibrium, purely competitive markets
A)minimize total
Q60: Innovations that lower production costs or create
Q61: The process by which new firms and
Q62: (Last Word) Eliminating patents would tend to
A)stimulate
Q63: If the entry or exit of firms
Q64: After all long-run adjustments have been completed,
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