You Time Someone Completing a Single Task the First Time

question 48

True/False

You time someone completing a single task the first time at 100 minutes, and the fourth time they do the task it takes 81 minutes. You should use an 81 percent learning curve to estimate the length of time this worker will take to complete this task in the future.

---

Definitions:

Capital

Refers to financial resources, machinery, and buildings used for producing goods and services.

Trade-Offs

Decisions made that involve choosing between benefits and drawbacks of different options, reflecting the concept of opportunity cost.

Resources

are assets, materials, or substances that are valuable for their utility in producing goods, providing services, or supporting life.

Esther Duflo

A French-American economist known for her research in development economics and for being the youngest person and the second woman to receive the Nobel Prize in Economic Sciences.