Which of the following captures the difference between an experience curve and economies of scale?
a. The experience curve is concerned with the decline in per-unit cost of production whereas economies of scale is concerned with the decline in the total cost of production
b. The experience curve is concerned with the decline in the total cost of production whereas economies of scale is concerned with the decline in per-unit cost of production
c. The experience curve is influenced by the cumulative volume of a product produced whereas economies of scale are influenced by the volume of a product being produced over a period of time.
d. The experience curve is influenced by the volume being produced over a period of time whereas economies of scale is influenced by the cumulative volume produced

Q&A Education