The First Unit of a Product Took 1,000 Hours to Build

question 5

Multiple Choice

The first unit of a product took 1,000 hours to build and the learning curve is 85%. How long will it take to make the first 5 units?

• A) less than 4,005 hours
• B) from 4,005 to 4,015 hours
• C) from 4,015 to 4,025 hours
• D) from 4,025 to 4,035 hours
• E) from 4,035 to 4,045 hours

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Definitions:

Technological Advance

Improvements in technology that increase productivity and efficiency, often leading to economic growth and new product development.

Expectation

The belief or anticipation about the way future events will unfold, influencing decision-making and behavior in the present.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level at a given time.

Demand

The measure of goods or services that people are both inclined and financially prepared to purchase at differing prices over a given time span.