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

Question

Quizplus · Accepted Answer

The term "experience curve" refers to the relationship between accumulated experience and production costs. As experience is gained, a company can become more efficient and productive, reducing unit costs. Therefore, a company with the most experienced production employees and the lowest unit costs in its industry indicates that it has benefited from experience curve efficiencies.

A Company with the Most Experienced Production Employees and the Lowest