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The Influence of Monopoly on Product Innovation: Rejoinder

✍ Scribed by Peter L. Swan

Book ID: 124309461
Publisher: MIT Press
Year: 1972
Tongue: English
Weight: 127 KB
Volume: 86
Category: Article
ISSN: 0033-5533
DOI: 10.2307/1880572

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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