The inverted-U theory suggests that R&D effort is strongest in very high concentration industries.

Name: The inverted-U theory suggests that R&D effort is strongest in very high concentration industries.
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The inverted-U theory suggests that R&D effort (or innovation) first increases and then decreases with market concentration, implying that it is strongest at intermediate levels of concentration, not at very high levels.

The Inverted-U Theory Suggests That R&D Effort Is Strongest in Very