The Extent to Which an Innovation Can Be Imitated by a Competitor

question 11

Multiple Choice

The extent to which an innovation can be imitated by a competitor depends on

• A)whether the competitors' experts are as clever as our experts.
• B)whether a competitor can get a photocopy of the patent details.
• C)how ruthless the competitor is.
• D)how possible it is for the competitors' experts to comprehend, codify and replicate the technology.

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Definitions:

Key Input

A crucial factor or resource required for the production process in an industry or manufacturing, significantly impacting the output.

Supply

The total amount of a good or service available for purchase at any given price level in a market.

Technological Advance

Improvements or innovations in technology that enhance productivity, efficiency, or product quality.

Increase in Supply

A situation where the quantity of a good or service that producers are willing and able to sell, at a given price, rises.