In Michael Kremer's O-Ring Theory, a firm employing a production process with 10 tasks and workers who complete their step with 95 per cent probability produces
a. only 60 percent (0.9510) of the output of a firm with perfectly competent workers.
b. 95 percent of the output of a firm with perfectly competent workers.
c. only 80 percent of the output of a firm with perfectly competent workers.
d. only 40 percent of the output of a firm with perfectly competent workers.
Answer: A