What does it mean for a firm to have an 80 percent learning curve?
A) Every time the cumulative output increases by 80 percent, the cost per unit will decline by 20 percent.
B) Every time the cumulative output is doubled, the cost per unit will decline by 80 percent.
C) Every time the cumulative output goes up by 20 percent, the cost per unit will decline by 80 percent.
D) Every time the cumulative output is doubled, the cost per unit will decline by 20 percent.
Correct Answer:
Verified
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