Which of the following is NOT a reason for average costs to fall according to the learning curve?
A) Workers accomplish tasks more quickly after doing the task a few times.
B) Managers schedule more efficiently over time.
C) Engineers determine more accurately what tolerances can be used.
D) Suppliers may become better able to produce the exact inputs the firm needs.
E) Competing firms leave the industry as the learning firm becomes more efficient.
E
You might also like to view...
If you were the Chairman of the Fed and faced inflation, you would most likely
a. encourage commercial banks to provide loans by buying government securities b. encourage commercial banks to provide loans by raising the discount rate c. encourage commercial banks to provide loans by selling government securities d. restrict commercial bank lending by selling government securities e. restrict commercial bank lending by lowering the federal funds rate
In the figure above, what is the point price elasticity of demand when price is $40?
A. -1.50 B. -0.50 C. -1.00 D. -0.75 E. -2.00