Which of the following statements is consistent with the views of Joseph Schumpeter?
A) An economy benefits from firms having market power because these firms are more likely to be able to commit funds for research and development.
B) Enforcement of antitrust laws is necessary to promote competition among firms.
C) A lack of competition discourages firms from developing new technologies.
D) Research and development by competitive firms is responsible for most technological changes.
A
Economics
You might also like to view...
The amount of deposits that banks must hold in reserve is
A) excess reserves. B) required reserves. C) total reserves. D) vault cash.
Economics
Economists and accountants both think of profits as total revenue minus total cost, but what they include in costs may differ
a. True b. False Indicate whether the statement is true or false
Economics