Determine the labor costs required to produce the item


Problem

Determine the labor costs required to produce the 100th item if the first item requires 45 days to produce and the learning curve percentage is 82%. The average cost of labor is $8.50 per hour and two 9-hour shifts work each day. The average number of people working on the item is eight.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: Determine the labor costs required to produce the item
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