Question

At a certain output level, the per-unit cost incurred by a firm to manufacture a product was $70. Once the cumulative output doubled, the cost per unit reduced to $63. All other factors remaining constant, the firm has been able to achieve a(n): _________

a. 90 percent learning curve.
b. 60 percent learning curve.
c. 54 percent learning curve.
d. 80 percent learning curve

Answer 1

c. 54 percent learning curve.

Explanation: the answer is 54 percent...