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The new investment opportunity uses a labour-intensive method of production. As part of the budgeting process, it was anticipated that the time taken for the
The new investment opportunity uses a labour-intensive method of production. As part of the budgeting process, it was anticipated that the time taken for the first unit would be 40 minutes and that a 75% learning curve would apply for the first 30 units.
Discuss the implications of the learning curve for a company adopting a penetration pricing policy.
Calculate the expected time for the 6th unit of output.
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