Consider the Competing Products Made by Apple (IPhone)and RIM (Blackberry)

question 80

Multiple Choice

Consider the competing products made by Apple (iPhone) and RIM (Blackberry) . The innovation generated by these firms as a result of their intense rivalry is an example of

• A)constant returns to scale.
• B)decreasing marginal returns.
• C)exogenous technological change.
• D)endogenous technological change.
• E)covert collusion.

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