The process of "creative destruction" in an oligopolistic industry suggests that

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"Creative destruction" suggests that firms must continually innovate in order to stay competitive, leading to the destruction of old ideas and the creation of new ones. In an oligopolistic industry, this dynamic can help to maintain profits for firms that are able to innovate successfully, providing an incentive to do so. While there may be costs of exit in oligopoly, this is not necessarily a defining feature of the process of creative destruction. Similarly, it is not accurate to say that no firm can survive in the long run or that profits are driven to zero by new entrants. Firms may face sunk costs of entry, depending on the specific industry and market conditions.

The Process of "Creative Destruction" in an Oligopolistic Industry Suggests