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What term is used to describe a firm's favorable cost benefit associated with large-volume production capabilities? Question 1 options: 1) Diversification leverage 2) First-mover advantage

What term is used to describe a firm's favorable cost benefit associated with large-volume production capabilities? Question 1 options: 1) Diversification leverage 2) First-mover advantage 3) Low-cost strategy 4) Economies of scale

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