Learning curves represent the relationship between
A) average variable cost and the number of units produced per time period.
B) average variable cost and the cumulative number of units produced.
C) total cost and technology.
D) average variable cost and the rate of increase in technology.

Question

Quizplus · Accepted Answer

Learning curves show how average variable costs decrease as cumulative production increases due to gained efficiencies and experience.

Learning Curves Represent the Relationship Between