Slide 1PowerPoint Slides by Robert F. BrookerCopyright (c) 2001 by Harcourt, Inc. All rights reserved. The Nature of Costs Explicit Costs –Accounting Costs Economic Costs…
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Slide 1 1 Chapter 8 COST FUNCTIONS Slide 2 2 Definitions of Costs It is important to differentiate between accounting cost and economic cost –the accountant’s view of…