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Monopoly Power, Innovation and Economic Growth

✍ Scribed by Mark Rogers

Book ID: 108522073
Publisher: John Wiley and Sons
Year: 1999
Tongue: English
Weight: 46 KB
Volume: 32
Category: Article
ISSN: 0004-9018
DOI: 10.1111/1467-8462.00098

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## 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