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From course:

Economics A Level (DONEEEEEEE)

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Question:

Use the Development of Rail and Motorways in the UK to explain why Monopoly Power can change due to Creative Destruction

Author: eric_galvao



Answer:

-The 19th Century in the UK saw Firms use Rail to Transport Freight rather than Canal. This Destroyed the Monopoly Power of the Canal Owners -The Development of Motorways and Lorries has Destroyed the Monopoly Power of Railway Owners in turn


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