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Innovation and the persistence of monopoly

โœ Scribed by Steven A. Lippman; John W. Mamer


Book ID
116101457
Publisher
Elsevier Science
Year
1992
Tongue
English
Weight
733 KB
Volume
38
Category
Article
ISSN
0165-1765

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Innovation and the opportunity cost of m
โœ Michael Reksulak; William F. Shughart II; Robert D. Tollison ๐Ÿ“‚ Article ๐Ÿ“… 2008 ๐Ÿ› John Wiley and Sons ๐ŸŒ English โš– 186 KB

## Abstract Innovation enables monopolists to lower their costs, expand their outputs, and reduce their prices. It is conventional to conclude that social welfare unambiguously increases as a result. Assuming linear demand and marginal cost, this paper shows, however, that innovation raises the opp