Which Two Market Structures Have a Strong Need to Innovate

question 90

Multiple Choice

Which two market structures have a strong need to innovate but have low expected returns on R&D expenditures?

• A) monopoly and oligopoly
• B) oligopoly and pure competition
• C) monopoly and monopolistic competition
• D) monopolistic competition and pure competition

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Definitions:

Screening Opportunity

The process of evaluating business opportunities to determine their viability and potential for success.

Action Plan

A detailed outline of the steps, tasks, and resources required to achieve specific goals or objectives.

Overall Schedule

A comprehensive plan that outlines all planned activities and their timelines in a project or operation.

Economics

The social science that studies how individuals, governments, firms, and nations make choices on allocating resources to satisfy their wants and needs.