What firm x develops as a new product

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Firm x develops a new product and gets a head start in its production. Other firms try to produce a similar product but discovers they have higher average total cost than the existing firm. This situation illustrates what?

 

 

Reference no: EM1357253

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What firm x develops as a new product : Firm x develops a new product and gets a head start in its production. Other firms try to produce a similar product but discovers they have higher average total cost than the existing firm. This situation illustrates what
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