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Business Chapter 22 the costs of production

1. THE COSTS OF PRODUCTION(notes) 2. ECONOMIC COSTSKeep in mind! Resources are scarce and are used toproduce many different products. The economic cost of using resourcesto…

Documents Cost Theory and Estimation Dr Nihal Hennayake. 2 The Nature of Costs Explicit Costs – Accounting.....

Slide 1 Cost Theory and Estimation Dr Nihal Hennayake 2 The Nature of Costs Explicit Costs Accounting Costs Economic Costs Implicit Costs Alternative or Opportunity Costs…

Documents Costs Curves Diminishing Returns

Costs Curves Diminishing Returns Costs Curves Diminishing Returns Accounting Costs Economic Costs Supply ACCOUNTING COSTS Accounting costs are monetary (usually explicit).…