Monopolists have an advantage over competitive markets in receiving the full benefit of research and development efforts.

Question

Quizplus · Accepted Answer

Monopolists do not have to share their research and development efforts with competitors, allowing them to fully benefit from their investments. In competitive markets, other firms may quickly imitate any new developments, limiting the original firm's ability to reap the full rewards of their research and development.

Monopolists Have an Advantage Over Competitive Markets in Receiving the Full