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Monopoly Innovation with Exhaustible Resource and Labor Input

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  • Pu-Yan Nie
  • Peng Sun

Abstract

This paper focuses on the propensity to innovate for a monopolist with two inputs, an exhaustible resource and labor. When this exhaustible resource is used up, the monopolist quits this industry. This paper characterizes the relationship between the two types of elasticity of innovation. With this relationship, the equilibrium is captured. This study argues that the lower the marginal cost incurred by innovation, the longer it takes for the monopolist to quit the industry and the higher the profits.

Suggested Citation

  • Pu-Yan Nie & Peng Sun, 2012. "Monopoly Innovation with Exhaustible Resource and Labor Input," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 25(3), pages 690-705, January.
    • Handle: RePEc:taf:reroxx:v:25:y:2012:i:3:p:690-705
    DOI: 10.1080/1331677X.2012.11517529
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