The Process of "Creative Destruction" in an Oligopolistic Industry Suggests

question 61

Multiple Choice

The process of "creative destruction" in an oligopolistic industry suggests that

• A)there are no costs of exit in oligopoly.
• B)no firm can survive in the long run.
• C)the prospect of keeping the resulting profits provides an incentive for firms to innovate.
• D)profits are driven to zero by the entry of new firms.
• E)firms can enter and leave without incurring any sunk costs of entry.

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