The Process by Which Monopoly Profits Lead to Technological Progress

question 117

Multiple Choice

The process by which monopoly profits lead to technological progress in known as

• A) imperfect competition.
• B) destructive creation.
• C) creative destruction.
• D) economies of scale.

---

Definitions:

Income Tax Rate

The proportion of income that is taken as tax from a person or company.

Deferred Tax Asset

A tax benefit that refers to a reduction in a company's future tax liability due to deductible temporary differences and carryforwards.

FASB

The Financial Accounting Standards Board (FASB) is a private, non-profit organization standard-setting body whose primary purpose is to establish and improve Generally Accepted Accounting Principles (GAAP) within the United States in the public's interest.