The ________ refers to systematic reductions in production costs that have been observed to occur over the life of a product.
A) experience curve
B) learning effect
C) location economies
D) efficiency slope
E) economies of scale

Question

Quizplus · Accepted Answer

The experience curve refers to the systematic reductions in production costs that occur over the life of a product as companies gain experience and efficiency in production processes.

The ________ Refers to Systematic Reductions in Production Costs That