The Optimal Market Structure for Technological Advance Seems to Be

question 198

Multiple Choice

The optimal market structure for technological advance seems to be an industry in which

• A)most firms are purely competitive.
• B)there is a natural monopoly with a large market for the product.
• C)there are oligopolistic firms and several small and highly innovative firms.
• D)the government provides some funding for research and development.

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Definitions:

Outsourcing

The practice of hiring third parties to perform services or create goods that traditionally were performed in-house by the company's own employees.

Solicitation

The act of requesting or seeking bids, proposals, or quotes from vendors for the supply of goods or services.

Bidders

Entities or individuals that propose their services or products in response to a request for proposal or tender.

Requesting

The act of formally or informally asking for something to be given or done.