Why do Entrepreneurs exist?

Business and entrepreneurship

Tokyo Tsushin Kogyo in its early days
Under perfect competition, market price = average cost
Monopoly rents
Ricardian rents: Low-cost producer
Ricardian rents: Differentiation
Steve Jobs believed that it was important for hardware and software to be tightly integrated, which was contrary to the prevailing models of modularity

MBA — Mechanical Engineer, curious !