Most technological developments in an industry are diffused throughout firms in that industry in a relatively brief period of time, but only if the technology in question has not been patented.

Question

Quizplus · Accepted Answer

Most technological developments in an industry may not necessarily be diffused throughout firms in that industry even if the technology is not patented. Factors such as high costs of adoption, lack of information, and the reluctance to change can all slow down the diffusion of technology.

Most Technological Developments in an Industry Are Diffused Throughout Firms