A group of students studying a firm named Sanders & Collins Corp.found that the workers initially learned their task-related activities very fast.In turn, this helped the firm reduce the labor cost incurred in producing each product.However, their rate of learning these tasks reduced over time.This scenario best illustrates the _____.
A)experience curve
B)learning curve
C)value curve
D)scale curve

Question

Quizplus · Accepted Answer

The scenario described in the question is best explained by a learning curve, which shows the rate of improvement in performing a task over time. As the workers in the firm became more experienced, their rate of improvement decreased, resulting in a less steep learning curve. This is a common phenomenon observed in many industries, and it has important implications for cost management and productivity. The other options, experience curve, value curve, and scale curve, do not adequately capture the specific dynamic described in the scenario.

A Group of Students Studying a Firm Named Sanders