As production workers become better organized and more familiar with equipment,the average cost per unit decreases.This is called the .
A)marginal utility
B)experience curve
C)demand curve
D)long- run average cost curve
E)short- run average cost curve

Question

Quizplus · Accepted Answer

The experience curve, also known as the learning curve, states that as workers become more experienced and familiar with equipment, the average cost per unit decreases. This is because they become more efficient and productive, reducing the cost of production. Therefore, the answer is B.

As Production Workers Become Better Organized and More Familiar with Equipment,the