Solved: What is creative destruction, Microeconomics

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What is creative destruction

Discussion:

Read "Creative Destruction" by W. Michael Cox and Richard Alm at https://www.econlib.org/library/Enc/CreativeDestruction.html and answer the following questions.

What is "creative destruction"?

How is it related to economic growth?

Give an example of industry where you see there is a 'creative destruction' presently takes place in the US.

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Microeconomics: What is creative destruction

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