Which of the following statements accurately brings out the difference between economies of scale and learning effects?

Learning effects occur over time, whereas economies of scale are captured at one point in time when output is increased.

Firms experience economies of scale when output increases, and they experience learning effects when output decreases.

While there are no diseconomies to scale, there are diseconomies to learning.

Economies of scale reduce cost per unit, whereas learning effects increase cost per unit.

Learning effects occur over time, whereas economies of scale are captured at one point in time when output is increased.

Explanation:

Learning effect is defined as as the process by which education results in increased productivity and in turn higher wages. This process takes time because most specialised skills need to be learnt in a formal institution over time.

Economies of scale is defines as cost reduction that a company experiences when there is an increase in production. Fixed cost realised can be spread over a larger number of produced units. Economies of scale is captured at one point in time when output is increased.

a recipe serves 8 people, and calls for 5 lbs of apples and 2 cups of flour. you want to prepare it for 24 people. divide 24 by 8 to get 3, and then multiply your ingredients by 3.

so for 24 people, you'll need 15 lbs of apples, and 6 cups of flour.