The number of labor hours it takes to produce one unit of a particular product declines in a predictable manner as the number of units produced increases.Which of the following terms best expresses this idea?
A)Perceptual maps
B)Economies of scope
C)Learning curves
D)Vector analysis

Question

Quizplus · Accepted Answer

This concept is known as a learning curve, which reflects the decreasing amount of time (or labor hours) needed to produce each unit as production experience is gained.

The Number of Labor Hours It Takes to Produce One