What can Invention and Innovation lead to?

-Better Capital Equipment, allowing Improved Quality of Goods made -Barriers to Entry being made Higher or Lower. If a Cheaper Method exists, it can Reduce Barriers to Entry, but also Increase the Capital Expenditure, which Increases Barriers to Entry -Level of Monopoly Power for the First Firm that Uses the New Invention / Innovation -Better Labour Productivity and Efficiency -More Economics of Scale