Which of the Following Statements Regarding the Learning Curve and Economies

question 21

Multiple Choice

Which of the following statements regarding the learning curve and economies of scale is accurate?

• A) Just as diseconomies of scale are presumed to exist if a firm gets too large, there is a corresponding increase in costs in the learning-curve model as the cumulative volume of production grows.
• B) Where diseconomies of scale are presumed to exist if a firm gets too large, there is no corresponding increase in costs in the learning-curve model as the cumulative volume of production grows.
• C) Where diseconomies of scale are presumed to exist if a firm gets too small, there is no corresponding increase in costs in the learning-curve model as the cumulative volume of production grows.
• D) Just as diseconomies of scale are presumed to exist if a firm gets too small, there is a corresponding increase in costs in the learning-curve model as the cumulative volume of production grows.

Differentiate between programmed and nonprogrammed decisions.

Recognize the impact of uncertainty and risk on the decision-making process.

Comprehend the classical and behavioral models of decision-making.

Understand the concept of bounded rationality and its implication on decision-making.

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