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Q. Discovery of new technical know-how?
Growth of Technical Know-how: Expansion of an industry may result in the discovery of new technical know-how. As a result of this firms may be able to use improved and better machinery that will increase the productivity of the firms and consequentlydecrease the cost of production.
Infant Industry Argument Advocates of this maintain that if an industry is just developing, with a good chance of success once it is established and reaping economies of sale,
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