q discovery of new technical know-howgrowth of, Managerial Economics

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q discovery of new technical know-howgrowth of

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.

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