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Which market structure is best suited for technological innovation?
Which market conditions are optimal for effective and sustained innovation to occur? This is a question that has vexed economists and business academics for many years. High levels of research and development spending are frequently observed in [ oligopolistic markets, although this does not always translate itself into a fast pace of innovation. The recent work of William Baumol (2002) provides support for oligopoly as market structure best suited for innovative behaviour. Innovation is perceived as being “mandatory” for businesses that need to establish a cost-advantage or a significant
lead in product quality over their rivals. ]
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Expert answered|selymi|Points 10056|
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Asked 2/6/2013 10:14:50 AM
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How does technology affect market structure and real-world competition?
Weegy: Technological development is the discovery of new or improved products or methods of production • Because the global market is significantly larger than a domestic one, [ globalization provides an incentive to develop new technology • Market structures that best promote technological change are dynamically efficient • Dynamic efficiency refers to a market’s ability to promote cost-reducing or product-enhancing technological change Real-World Competition and Technology Market Structure and Technology Perfect competition • There is no incentive to develop new technologies because they earn no profits to fund research • Even if they did innovate, competitors would gain from the new technology without having to pay for it Monopolistic competition • Because of market power, monopolistic competition is more conducive to technological change • Due to ease of entry, they lack long-run profits, so their ability to recoup their investment is limited ] (More)
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Asked 2/6/2013 9:34:00 AM
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What are some clinical issues that children and adolescents face in today’s society?
Weegy: Children and adolescents face anxiety, depression, suicidal thoughts, conduct disorder (long term behavioral problems), and use of drugs due to conflict occurring in school. [ The Administration for Children and Families (AFC) and the National Association of Child Care Resource Referral (NACCRR) ] (More)
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Asked 2/6/2013 11:46:39 AM
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How is the primary market different from the secondary market?
Weegy: A primary market transaction is a first-time sell on an exchange, where the firm selling the stock receives the money. [ A secondary market transaction is when the asset or stock is sold from person to person (or by a broker) and the firm does not receive any of the money. ] (More)
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Asked 2/12/2013 11:43:32 AM
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What is the capital market?
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Asked 2/12/2013 11:35:05 AM
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why is it important not to use first person in academic writing?
Weegy: It is important not to use first person in academic writing to avoid develop style and voice in what can often be dry or impersonal genres. Used too frequently or without care, it can make a writer seem self-centered, even self-obsessed. [ ] (More)
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Asked 2/12/2013 3:32:39 PM
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