Merck,the pharmaceutical company,has taken more than a thousand drugs through the federal approval process and so can do it more cost efficiently than many of its competitors who are relatively new to the industry.Which of the following refers to cost savings that come to Merck in the drug approval process?

Question

Quizplus · Accepted Answer

Learning effects refer to cost savings that occur as a company gains experience and becomes more efficient in a process, such as Merck's experience with the drug approval process.

Merck,the Pharmaceutical Company,has Taken More Than a Thousand Drugs Through