The Second Unit of Production Took 9 Hours

question 51

Multiple Choice

The second unit of production took 9 hours.If the learning curve is 90% how long did the first unit take?

• A)9 hours
• B)10 hours
• C)8.1 hours
• D)8.5 hours
• E)none of the above

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Definitions:

Excess Reserves

The amount of reserves that a bank holds beyond the required minimum set by the central bank or regulatory authority.

Liquidity

Money or things that can be quickly and easily converted into money with little or no loss of value.

Profits

The financial gain that is achieved when the amount of revenue generated from business activities exceeds the expenses, costs, and taxes needed to sustain the activity.

Interest Rates

The cost of borrowing money, typically expressed as a percentage of the principle.