Multiple Choice
The experience curve can be defined as:
A) A law relating doubling of cumulative volume output to constant percentage reduction in average manufacturing time and labour cost.
B) A law according to which the unit cost of value added declines by a constant percentage of 30% each time cumulative output doubles
C) An observation that direct costs decrease when production increases
D) An observation of the systematic acceleration in output of airplanes and ships during time of war.
Correct Answer:
Verified
Correct Answer:
Verified
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