According to the process of creative destruction, at first the entrepreneur will be able to sell the product for
A)a low price because it is not well known.
B)a high price because there is no competition.
C)a fair price because these are contestable markets.
D)at a price of zero until the market is created.

Question

Quizplus · Accepted Answer

Creative destruction involves introducing innovative products or services that disrupt existing markets. Initially, the entrepreneur can charge a high price due to the lack of competition and the unique value the innovation provides.

According to the Process of Creative Destruction, at First the Entrepreneur