Many economists would view market competition as supporting the invention of new technology because it
A. provides an competitive edge over competitors for the long-term.
B. encourages methods of producing existing products at less cost.
C. encourages creation of products with desirable characteristics.
D. provides short-term above-normal profits, and b and c as well.
Answer:D
Many economists would view market competition as supporting the invention of new technology because it
A. provides an competitive edge over competitors for the long-term. B. encourages methods of producing existing products at less cost. C. encourages creation of products with desirable characteristics. D. provides short-term above-normal profits, and b and c as well.
Explanation: Type: Multiple Choice