The decrease in average per unit cost of production which is caused by accumulated experience of production is classified as?
Correct answer: A. experience curve
- A. experience curve
- B. learning curve
- C. costing curve
- D. pricing curve
Explanation
The experience curve describes falling unit costs as cumulative production experience increases, including improvements beyond worker learning alone. A learning curve is narrower and mainly links efficiency to repeated performance or labour learning.
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