When a Firm Does More of Something, It Gets Better

question 244

Multiple Choice

When a firm does more of something, it gets better at it. This learning-by-doing is

• A)a source of diseconomies of scale.
• B)a source of economies of scale.
• C)called the principle of natural progression.
• D)called "spreading the overhead."

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Definitions:

Competitors

Entities that are in the same industry and vie for the same customers or resources.

Pitch Deck

A concise presentation used by startups and entrepreneurs to provide an audience with a quick overview of their business plan, often with the goal of securing investment or partnership.

Market

The arena in which buyers and sellers come together to exchange goods, services, or information.

Unique Way

A manner or approach that is distinct and unlike any others in achieving a goal or solving a problem.