In Troix City, the Learning Rate Is Based on a Tripling

question 19

Multiple Choice

In Troix City, the learning rate is based on a tripling of output instead of the traditional doubling. The first unit of a long production run was produced in 25 hours. The process has an estimated learning rate of 90 percent. How long will the 15th unit take to produce?

• A) 18.67 hours
• B) 19.28 hours
• C) 20.74 hours
• D) 17.23 hours

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Definitions:

Absolute Advantage

A situation where a producer can produce more goods using the same amount of resources or less than other producers.

Production Possibilities

A graphical representation of the maximum number and combinations of goods and services that can be produced from a fixed set of resources.

Absolute Advantage

A situation where a country, individual, or firm can produce more of a good or service with the same amount of resources compared to other entities.

Specialize

When individuals or businesses focus on producing a limited range of goods or services to increase efficiency and output quality.