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Explain What a learning curve theory is?
One of the methods of estimating cost, especially direct labour cost, is through the leaning curve theory.The theory assumes that at the early stage of production staff will use more average labour...
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What is a learning curve?
When learning anything, the amount 'Useful Stuff' should be roughly equal to the of time spent on a subject. If this were graphed it would look like a 45 deg line. The 'Learning Curve' could be...
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Advantage learning curve?
ADVANTAGES OF LEARNING CURVE
(a) It will assist in planning for personnel both in terms of number and the cost.
(b) It will assist in product pricing by providing better-cost estimates.
(c) ...
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Explain the shape of the demand curve?
It is a slope that goes downwards from left to right.