What learning curve implies?, Microeconomics

Learning curve implies:

 1) The requirement of labor falls per unit.

 2) Costs will be high at 1st and then will fall with learning.

 3) After eight years the labor requirement will be 0.51 and per unit cost will be ½ what it was in the 1st year of production? 

Posted Date: 10/12/2012 4:05:49 AM | Location : United States

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