Question 1 Under What Conditions Can We Use Learning Curves

Question 1: Under what conditions can we use learning curves to estimate prices? In other words, when does the learning curve apply?Learning curve applies where production is repetitive and standardised so that workers can gain experience and become more dextrous in their work. Learning curve also applies in new processes and technologies. When new processes and technologies are, introduced users take time to learn how to operate them and their efficiency increases with continued use of these processes or technologies. When there is potential for a company to increase efficiency by altering their product, mix learning curve also applies. Learning curve also applies to a new product where the company is already manufacturing other products. In this case, learning curve applies through shared experience as experience gained in one product can be applied to another product (Ghormley, September 1952; Reguero, 1957).Question 2: Research 2 companies on the internet and provide examples of how the learning curve was use and how the companies achieve success or notDu point is a good example of successful use of learning curve. In Du Pont’s Sabine River petrochemical works in Texas, production at the end of 1955 was 25% above that of 1954. The plant