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Unformatted text preview: markets and knowledge Product Life Cycle:-Raymond Vernons theory early in the life cycle of a typical new product, while demand is starting to grow rapidly in the US, demand in other advanced countries is limited to high-income groups New Trade Theory:-Emerged in the 1970s, economists arguing that increasing returns to specialization might exist in some industries-Economies of Scale o Represent one particularly important source of increasing returns o Economies of scale are unit cost reductions associated with a large scale of output...
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This note was uploaded on 03/23/2010 for the course MOS 1020 taught by Professor Leduc during the Winter '09 term at UWO.
- Winter '09