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nakungth nakungth
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6 years ago
A learning curve may be expressed as  a relationship between the labor per unit (L) and the cumulative number of units produced (N).  Which of the following learning curves exhibits a faster reduction in cost of production due to learning, (1) L = 10 + N-1 or (2) L = 10 + N-0.5?
A) Learning curve (1)
B) Learning curve (2)
C) Curves (1) and (2) exhibit the same rate.
D) We cannot determine the rate of cost reduction without knowing the value of N.
Textbook 
Microeconomics

Microeconomics


Edition: 8th
Author:
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boransalboransal
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#1
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6 years ago
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nakungth Author
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6 years ago
Smart ... Thanks!
cipcal
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Yesterday
I appreciate what you did here, answered it right Smiling Face with Open Mouth
bioc
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2 hours ago
Good timing, thanks!
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