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Many Economists Would View Market Competition as Supporting the Invention

Question 15

Multiple Choice

Many economists would view market competition as supporting the invention of new technology because it


A) provides an competitive edge over competitors for the long-term.
B) encourages methods of producing existing products at less cost.
C) encourages creation of products with desirable characteristics.
D) provides short-term above-normal profits, and b and c as well.

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