Regarding new inventions, which of the following statements is not true?
A)a new invention typically has little competition
B)this effective monopoly on the market earns the inventor abundant profit
C)that profit gets the attention of other potential inventors, who create competing products
D)reduced to zero economic profits, the inventor goes out of business

Question

Regarding new inventions, which of the following statements is not true?
A)​a new invention typically has little competition  
B)​this effective monopoly on the market earns the inventor abundant profit 
C)​that profit gets the attention of other potential inventors, who create competing products 
D)​reduced to zero economic profits, the inventor goes out of business

Quizplus · Accepted Answer

While reduced profits may lead to decreased investment or activity, going out of business is not always the case. Inventors may adjust their business models or innovate further to stay competitive in the market.

Regarding New Inventions, Which of the Following Statements Is Not