Evaluate: Society does not need laws outlawing monopolization and monopoly. Inevitably, monopoly causes its own self-destruction since

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Evaluate: “Society does not need laws outlawing monopolization and monopoly. Inevitably, monopoly causes its own self-destruction since its high profit is the lure for other firms or entrepreneurs to develop substitute products.”

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Economics

ISBN: 978-0073375694

18th edition

Authors: Campbell R. McConnell, Stanley L. Brue, Sean M. Flynn

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Question Posted: May 23, 2013 07:46 AM

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Evaluate: Society does not need laws outlawing monopolization and monopoly. Inevitably, monopoly causes its own self-destruction since

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Innovation can reduce or even disintegrate existing monopoly power by pr...View the full answer

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