Technological advance may lead to new monopolies and may also destroy existing monopolies.

Name: Technological advance may lead to new monopolies and may also destroy existing monopolies.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Technological advancements can create new monopolies by allowing companies to dominate emerging markets with innovative products or services. Similarly, these advancements can disrupt existing monopolies by introducing competition and alternatives that challenge the dominant position of established firms.

Technological Advance May Lead to New Monopolies and May Also