Which of the Following Statements Comparing Learning Curve Rates (L)

question 15

Multiple Choice

Which of the following statements comparing learning curve rates (L) to improvement rates is TRUE?

• A) The learning curve rate is the same as the improvement rate.
• B) The learning curve rate is a decimal value while the improvement rate is a percentage.
• C) A 90 percent learning curve corresponds to a 10 percent rate of improvement.
• D) Learning curve rates apply to labor only, while improvement rates apply to all resources.
• E) "Learning curve rates" is American usage, while "improvement rates" is British.

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Definitions:

Market Price

The current price at which a good or service can be bought or sold in a given market, determined by supply and demand.

Units

Measurements or quantities of a product or service.

Short-Run Costs

Costs that vary with the level of output in the short term, where at least one factor of production is fixed.

Profitable Level

The point at which a business or operation generates revenue that exceeds its costs, leading to profitability.