The First Unit of a Product Took 1,000 Hours to Build

question 104

Multiple Choice

The first unit of a product took 1,000 hours to build and the learning curve is 85%.How long will it take to make the first 5 units? (Use Table E.3)

• A)less than 4,005 hours
• B)from 4,005 to 4,015 hours
• C)from 4,015 to 4,025 hours
• D)from 4,025 to 4,035 hours
• E)from 4,035 to 4,045 hours

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Definitions:

Soybeans

A type of legume native to East Asia, widely grown for its edible bean which has numerous uses, including oil and feedstock.

Alfalfa

Alfalfa is a perennial flowering plant widely cultivated as fodder for cattle due to its high nutrient content.

Comparative Advantage

An economic principle that suggests a country, individual, or company is most efficient at producing a certain good or service compared to others, enabling trade benefits.

Absolute Advantage

The ability of a country, company, or individual to produce a good or service at a lower cost per unit than competitors using the same amount of resources.