Please grade my AWA essay taken from the Official Guide

The following appeared as part of an annual report sent to stockholders by Olympic Foods, a processor of frozen foods.

“Over time, the costs of processing go down because as organizations learn how to do things better, they become more efficient. In color film processing, for example, the cost of a 3-by-5-inch print fell from 50 cents for five-day service in 1970 to 20 cents for one-day service in 1984. The same principle applies to the processing of food. And since Olympic Foods will soon celebrate its twenty-fifth birthday, we can expect that our long experience will enable us to minimize costs and thus maximize profits.”

Discuss how well reasoned this argument is....
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Please find the essay written below and let me know the what can be possibly improved:

The argument that the cost of processing go down with more experience omits some important claims that are substantial for the argument. The argument provides an example of the colour film processing to validate its claim. This alone does not constitute a logical argument in favour of the fact that with experience the processing cost is minimized and it certainly does not provide support of the proof of argument.

Most conspicuously, the argument does not address the cause for the reduction in production cost for the colour film processing. In a weak attempt to support its claim, the argument states that the same principal which is applicable for colour processing would be applicable to the food processing as well. The argument must take several other factors in account as well before coming to the main conclusion. Several factors might be responsible for the reduction in processing cost for the colour film processing. The advancement in technology and the adaption of the latest technology plays a crucial role in determining the production cost. In case the reduction of production cost in the colour film processing is due to advancement in technology, then the argument is not valid. The cost of labour and the availability of the labour force in the processing area is also important factors to be considered. What if the area where the colour film factory is located, the workers were available in bulk. Henceforth, over the years the wages had dropped substantially. Moreover, the products manufactured are different for both the firms. The quality of workers also plays an important role in production cost. Incase, the workers of colour film processing are able to analyse the situation and understand the issues faced in production, they could make the process more efficient than the workers of food processing who are working in exactly the same manner since the beginning without any changes. The efficiency of the workers is an important factor to also be considered while concluding the argument. It is not necessary that if a case was applicable for one industry it will work for the others as well. For example: For a furniture processing firm with similar experience as the food processing firm, the cost of processing increased over the years. This defies the principle that the cost of processing decreases with experience.

Because the argument leaves out several key issues, it is not so sound or persuasive.If it included the items discussed above instead of solely depending on the example of the colour film processing, the argument would have been more thorough and convincing.