According to new trade theory, first movers in an industry can gain a scale-based _____ advantage that later entrants find almost impossible to match.
Fill in the blank(s) with the appropriate word(s).
cost
You might also like to view...
The additional benefit incurred when undertaking an activity is the ________ benefit
A) total B) gross C) marginal D) explicit
A perfectly elastic demand curve has an elasticity coefficient of:
a. 0. b. 1. c. less than 1. d. infinity.
The total factor productivity of an economy is the ratio of the economy's _____
a. total income to its total population b. output to its total stock of labor and capital c. stock of capital to its stock of labor d. total population to its total labor force e. total capital stock to its total population
Marginal utility
A) at first rises and then declines as a person consumes more of a good or service. B) can be thought of as being the equivalent to total utility. C) equals the total satisfaction from consumption of goods and services. D) is stable, but then as a person consumes more of a good or service, has a propensity to increase.