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The Cost of Monopoly in Australian Manufacturing

✍ Scribed by Robert Dixon; Alan Gunther; Muhammad Mahmood


Book ID
108522180
Publisher
John Wiley and Sons
Year
2001
Tongue
English
Weight
54 KB
Volume
34
Category
Article
ISSN
0004-9018

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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