The First Unit of a Product Took 50 Hours to Build

question 73

Multiple Choice

The first unit of a product took 50 hours to build, and the learning curve is 85%. How long will it take to make the 10th unit? (Use at least three decimals in the exponent if you use the logarithmic approach.)

• A) less than 24 hours
• B) from 25 to 30 hours
• C) from 30 to 35 hours
• D) from 35 to 40 hours
• E) more than 40 hours

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Definitions:

Prices Reflect

The concept that prices in a market represent information about the value of goods and services, influenced by supply, demand, and costs.

Productivity

The measure of efficiency of production, often expressed as the ratio of outputs to inputs in a production process.

Annual Output

The total production or output produced by a company or economy in a one-year period.

Trade

The exchange of goods and services between individuals or entities, often in return for money.