此问题已重新计分。

Many economists would view market competition as supporting the invention of new technology because it

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此问题已重新计分。

Many economists would view market competition as supporting the invention of new technology because it

BlackTom AI · Accepted Answer

The provided data for this item is incomplete, which makes a full, option-by-option analysis impossible. Specifically, the question text is present, but there are no answer options listed, only a fragment of a provided answer: "provides short-term above-normal profits, and b and c as well." This suggests there were multiple choices (a, b, c, d) originally, but the actual options are missing from the input.

What we can discuss meaningfully given the context:
- The question asks why many economists view market competition as supporting the invention of new technology. A common economic intuition is that competition creates pressure to innovate because incumbent firms face the risk of losing market share and profits as new, more efficient technologies or processes emerge. If a firm can innovate and commercialize a superior technology, it can earn temporary above-normal profits before competitors catch up, which provides a financial incentive for innovation. In other words, the prospect of short-run profit opportunities serves as a motivation to develop new technology, even in a competitive environment.
- Another related line of reasoning is that competition can accelerate diffusion and improvements through frequent experimentation, signaling, and the signaling value of early moves, which can spur investment in R&D, even if competition erodes prices over time.
- Misconceptions to watch out for: some might think competition always reduces profits and thus discourages innovation, but the key nuance is the duration and distribution of profits. Innovation can create temporary rents that reward risk-taking, even in competitive markets.

Given the absence of explicit choices, I cannot evaluate why option A or options B, C, and D (if they existed) would be correct or incorrect. If you can provide the full list of answer options (a, b, c, d) or at least the complete text of each option, I can give a precise, option-by-option analysis explaining why each one is correct or incorrect and how it relates to the claim that competition supports technological invention.

In short, with the current incomplete input, I can discuss the general rationale behind the statement and highlight the typical reasoning economists use, but I cannot assess the specific provided choice against other options without the complete set of options.

ECON 203-0001 Chapter 13

此问题已重新计分。 Many economists would view market competition as supporting the invention of new technology because it

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