The learning curve is representative of the ________.
A) per unit cost of output in the long run
B) drop in the average per-unit production cost that comes with accumulated production experience
C) number of units the market will buy in a given time period, at different prices that might be charged
D) total market demand resulting from different prices
E) per unit cost of output in the short run

Question

Quizplus · Accepted Answer

The learning curve shows the drop in the average per-unit production cost that comes with accumulated production experience. As more units are produced, the cost per unit decreases due to increased efficiency and experience.

The Learning Curve Is Representative of the ________