With a 70 Percent Unit Improvement Factor Learning Curve and an Initial

question 6

Multiple Choice

With a 70 percent unit improvement factor learning curve and an initial time of 100 minutes to do a job, at what number of repetitions does the job take less than 50 minutes?

• A) 2 repetitions of the job
• B) 3 repetitions of the job
• C) 4 repetitions of the job
• D) 5 repetitions of the job
• E) 6 repetitions of the job

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Definitions:

Marginal-Cost Curve

A graphical representation that shows how the cost of producing one additional unit of a good varies as the production volume changes.

Average-Fixed-Cost Curve

A graphical representation that shows the fixed costs of production per unit of output declining as the quantity of output increases.

Marginal-Cost Curve

A graphical representation that shows the cost of producing one more unit of a good.

Average-Total-Cost Curve

A graphical representation showing how the average total cost of production changes as the quantity of output is altered.