Monopolies may lack dynamic efficiency if they don't have strong day-to-day competition. But on the other hand, they make high profits which can be used to finance research and development. This helps ti promote innovation which is a key feature of dynamic efficiency.
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Hi sir, could you send the link to that speech you mentioned in the video? thank you!
How is this related to monopolies ?
Monopolies may lack dynamic efficiency if they don't have strong day-to-day competition. But on the other hand, they make high profits which can be used to finance research and development. This helps ti promote innovation which is a key feature of dynamic efficiency.