Which of the following statements about technological advance is not true?
A)It enhances both productive and allocative efficiency in the society.
B)It can increase monopoly power through, for example, patents.
C)It can eventually destroy old existing monopolies.
D)It progresses automatically and inevitably.

Question

Quizplus · Accepted Answer

Technological advancement is not automatic or inevitable; it often requires significant investment in research and development, innovation, and education. The pace and direction of technological progress can be influenced by many factors, including economic incentives, government policies, and societal needs.

Which of the Following Statements About Technological Advance Is Not