There is assumed to be a "ratchet" effect when it comes to firms in an industry and their spending on R&D.Explain what it is about the market economy that produces that effect.

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The Answer of There is assumed to be a "ratchet" effect when it comes to firms in an industry and their spending on R&D.Explain what it is about the market economy that produces that effect.

There Is Assumed to Be a "Ratchet" Effect When It