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Question
New innovations typically tend to:A. be adopted very slowly at first.
B. eliminate incumbent inertia for late entrants.
C. eliminate monopoly rents when they are first introduced.
D. reduce the effectiveness of future enabling technologies.
Answer
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Related questions
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D. the product design is adopted by the majority of producers.
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Which of the following is true of externalities?
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B. They are only borne by individuals responsible for creating them.
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Technological innovations increase:
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Technological innovation decreases the amount of output achievable from a given quantity of labor and capital.
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A legally induced adherence to a dominant design is not possible.
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Network externalities cannot arise in markets that do not have physical networks.
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The learning curve indicates that the more units a company produces of an item, the more each unit will cost.
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What are the factors that determine whether switching to a new technology will benefit a firm?
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Once a new product design becomes a dominant design:
A. the product is no longer profitable.
B. it becomes difficult for competitors to imitate.
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Q:
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A. the firm must reduce its production capacity.
B. the firm should improve its efficiency to target the mass market.
C. the early majority market becomes saturated.
D. the early majority market is ready to buy the product.