A company with the most experienced production employees and the lowest unit costs in its industry indicates that it had benefited from

Question

Quizplus · Accepted Answer

The most experienced production employees indicate that the company has achieved learning effects or experience curve efficiencies. This means that the company has benefited from the learning-by-doing phenomenon, where the more a task is performed, the more efficient and skilled the workers become, resulting in lower unit costs.

A Company with the Most Experienced Production Employees and the Lowest