2 ms·
To be specific, that’s only true in the case of a monopoly (which patents are meant to grant). Competition is the means by which products get priced closer to t
by strongpigeon 2y ago
To be specific, that’s only true in the case of a monopoly (which patents are meant to grant). Competition is the means by which products get priced closer to their production cost.
- Jensson 2y agoThis is a government enforced monopoly, so no there wont be any competition for a years.
- mym1990 2y agoI would not say that this only applies to monopolies. You could add in companies that have strong moats, companies and industries that are able to collude(real estate brokers). Essentially there is more room for profit as competition decreases, but it is a sliding scale and not only monopolies apply. Even in spaces where there is lots of competition, it takes time for companies to reduce prices closer to production costs, aka a race to the bottom.