Firms that simply copy innovative products gain high profits due to price competition.

Name: Firms that simply copy innovative products gain high profits due to price competition.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Copying innovative products often leads to intense price competition among firms, which can erode profit margins rather than guaranteeing high profits. Additionally, firms that merely copy innovations may face legal challenges and lack differentiation, further impacting profitability.

Firms That Simply Copy Innovative Products Gain High Profits Due