The learning curve
A)is really no different from a marginal cost curve.
B)calculates average cost at a particular point in time.
C)shows the decrease in unit cost as more of the same product is produced over time.
D)None of the above

Question

Quizplus · Accepted Answer

The learning curve shows how the unit cost of production decreases as more units are produced over time due to increased efficiency and experience. It is not the same as a marginal cost curve, which shows the change in cost as output increases by one unit. The learning curve does not calculate average cost at a particular point in time, but rather shows the overall trend of decreasing unit costs over time.

The Learning Curve