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TRUE OR FALSE
1. Experience effects and economies of scale both contribute to reduced costs per unit.
2. In differentiation strategies, the emphasis is on creating value through uniqueness.
3. A best cost strategy combines the elements of low-cost leadership and differentiation.
4. The industry life cycle portrays how sales volume for a class of products changes over its lifetime.
5. A competitive shakeout usually occurs at the beginning of the growth stage of the product life cycle.
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