The concept that suggests that unit production costs decline by some fixed percent each time the total accumulated volume of production in units doubles is referred to as
A) the experience curve.
B) the R&D mix.
C) technological competence.
D) economy of scale.
E) economy of scope.

Question

Quizplus · Accepted Answer

The concept that suggests that unit production costs decline by some fixed percent each time the total accumulated volume of production in units doubles is referred to as the experience curve. This concept is also known as the learning curve or the progress function.

The Concept That Suggests That Unit Production Costs Decline by Some