Business, 18.01.2021 21:40 lulprettyb

If 200 labor hours were required to produce the 1st unit in a production run and 60 labor hours were required to produce the 7th unit, what was the learning-curve rate during production

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Answer from: leapfroggiez

65 %

Explanation:

Efficiency increases as the same task is performed repeatedly and thus the time required to complete the task reduces. The percentage reduction in the time required to complete the task is known as the learning-curve rate.

Step 1

Determine the Cumulative Production Quantity

This is the total number of units made since the first unit

1st unit = 1 unit

7th unit = 8 units

Step 2

Determine the Cumulative Time per unit

This is the the total of the individual time per unit of all made to date

1st unit = 200 hours

7th unit = 200 + 60 = 260 hours

Step 3

Determine the average time per unit

This is the cumulative time per unit divided by cumulative production quantity

1st unit = 200 hours ÷ 1 = 200 hours

7th unit = 260 hours ÷ 2 = 130 hours

Step 4

Calculate Learning curve rate

130 hours / 200 hours × 100 = 65 %

Conclusion :

Therefore, the learning-curve rate during production is 65 %

Answer from: Quest

Idont have idea about ir

Answer from: Quest

1 all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

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