Firm ABC designs and implements a lower-cost method of producing its product. This is an example of
A) product innovation.
B) the inverted U-theory.
C) economies of scale.
D) process innovation.

Question

Quizplus · Accepted Answer

The fact that Firm ABC designed and implemented a lower-cost method of producing its product implies that they have come up with a new and improved process of producing their product, which is process innovation.

Firm ABC Designs and Implements a Lower-Cost Method of Producing