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

This is an example of process innovation, as it involves a new or significantly improved production or delivery method, which in this case is a lower-cost method of producing its product.

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