The first building that is constructed by a construction company will take longer to construct than the 10th building that is constructed by the same company. This is because the company will become more efficient at constructing buildings as they do more of them. What is this phenomenon known as? O a. Learning-curve effect O b. Network effect O c. Customization O d. Economies of scope-
The first building that is constructed by a construction company will take longer to construct than the 10th building that is constructed by the same company. This is because the company will become more efficient at constructing buildings as they do more of them. What is this phenomenon known as? O a. Learning-curve effect O b. Network effect O c. Customization O d. Economies of scope-
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter7: Production, Costs, And Industry Structure
Section: Chapter Questions
Problem 40P: Return to Figure 7.7. What is the marginal gain in output from increasing the number of batters from...
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![The first building that is constructed by a construction company will take longer to construct than
the 10th building that is constructed by the same company. This is because the company will become
more efficient at constructing buildings as they do more of them. What is this phenomenon known
as?
O a. Learning-curve effect
O b. Network effect
O c. Customization
O d. Economies of scope
E](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F861af1f0-9095-4900-ad4a-158f576b93e8%2F9c1dad35-7a31-4f18-9c65-fa4d7c7b0bca%2Fyolcqnb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The first building that is constructed by a construction company will take longer to construct than
the 10th building that is constructed by the same company. This is because the company will become
more efficient at constructing buildings as they do more of them. What is this phenomenon known
as?
O a. Learning-curve effect
O b. Network effect
O c. Customization
O d. Economies of scope
E
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