Long-run average cost (AC) of operation may decrease for three reasons. a. List and explain the three reasons why the average unit cost may decrease in the auto industry or any other industry over time. b. Give an example of the learning curve for a business operation where the average costs were reduced due to cumulative production experience. c. Suppose that the global learning curve for solar power installation in the US is at 93% according to a recent study. interpret what this learning rate implies.  d. How might the learning curve information help businesses in making operational decisions?

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