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.
A
Economics
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