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The reason that innovation promotes competition is because A. firms use it to make competitors' products...

The reason that innovation promotes competition is because

A. firms use it to make competitors' products obsolete in the market.

B. government provides patent protection for innovation that lasts for a long time.

C. it lowers the research and development costs for innovative firms.

D innovative firms can charge any price they want for a new product.

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Answer #1

The reason why innovation promotes competition is that:

Firms use it to make competitors' products obsolete in the market

option(A)

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