A learning curve relates ________ to ________ and is a case of ________ returns.
A) unit cost; cumulative production; dynamic increasing returns
B) output per time period; long-run marginal cost; dynamic increasing returns
C) unit cost; cumulative production; dynamic decreasing returns
D) output per time period; long-run marginal cost; dynamic decreasing returns
E) labor productivity; education; increasing marginal returns

Question

Quizplus · Accepted Answer

A learning curve relates unit cost to cumulative production and is a case of dynamic increasing returns. As cumulative production increases, unit costs typically decrease due to learning and efficiency improvements.

A Learning Curve Relates ________ to ________ and Is a Case

A Learning Curve Relates to and Is a Case