The experience-curve concept: a. is very important in industries that mass-produce a standardized output. b. helps a company realize both learning effects and diseconomies of scale. c. suggests that achieving low costs allows a firm to charge a premium price. d. suggests that unit manufacturing costs increase by a certain amount each time output is increased. e. is least likely to bottom out as long as the company does not stop production.

The Boston Consulting Group developed the notion of the "Experience Curve," which asserts that there is a regular correlation between a company's total amount of production and its cost of production.

The example of experience-curve is-

The growth of the Model T Ford is arguably the most well-known illustration of the Experience Curve.
Ford raised its market share from 10% to 55% by cutting production costs for the Model T and utilizing its 11 years of assembly experience.

Factors responsible for experience-curve are-

The most frequent ones are: a growth in production scale, organizational and technical advancements in the production process, and quality improvement.
There are numerous other elements that also have an impact on the degree of this effect.

To know more about Henry Ford’s Model T, here

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