Regarding new inventions, which of the following statements is not true?
A)A new invention typically has little competition.
B)This effective monopoly on the market earns the inventor abundant profit.
C)That profit gets the attention of other potential inventors, who create competing products.
D)Reduced to zero economic profits, the inventor goes out of business.

Question

Quizplus · Accepted Answer

While it's true that new inventions can initially lead to little competition and potentially high profits, attracting other inventors and competition, it's not necessarily true that the original inventor will be reduced to zero economic profits and go out of business. Inventors can maintain a competitive edge through continuous innovation, brand loyalty, or other business strategies.

Regarding New Inventions, Which of the Following Statements Is Not