The First Product Took 10 Hours to Build and the Learning

question 49

Multiple Choice

The first product took 10 hours to build and the learning curve is estimated to be 90%.How long will it take to make the fourth unit?

• A)10 hours
• B)9 hours
• C)8.1 hours
• D)7.5 hours
• E)none of the above

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Definitions:

Rents

Payments made for the use of property or land. In economics, it can also refer to income derived from the ownership of scarce resources.

Law Of Supply

A principle stating that, all else being equal, an increase in price results in an increase in quantity supplied.

Law Of Demand

The economic principle that, all else equal, an increase in the price of a good will decrease the quantity demanded, and conversely, a decrease in price will increase the quantity demanded.

Quantity

The amount or number of a material or immaterial entity that is measureable.