The learning curve indicates that
A)economies of scale are taking effect.
B)repetition of various production tasks cause unit costs to decrease.
C)workers must learn new skills in order to improve.
D)it takes time to learn a new skill.

Question

Quizplus · Accepted Answer

The learning curve refers to the idea that as workers repeat a specific task or production process, they become more efficient and their unit costs decrease. This is due to a variety of factors such as improved techniques, reduced waste, and increased familiarity with the task at hand. While economies of scale may also come into play as production levels increase, this is not typically what the learning curve specifically refers to. Similarly, while workers may need to learn new skills to improve, this is not necessarily what the learning curve represents, as it specifically refers to the improvements that come from repetition of a specific task or process.

The Learning Curve Indicates That