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1. Production AnalysisMeaning of Production:The term“Production”means transformation of physical “inputs” into physical “outputs”. The term “inputs” refers…

Economy & Finance 11. theory of cost

THEORY OF COST SONU CHOWDHURY THEORY OF COST CHAPTER OUTLINE Rationale behind theory of cost Cost meaning Short run and Long run cost INTRODUCTION Firmâs objective is to…

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1.COST AND REVENUE FUNCTIONS, SHORT RUN COST CURVES, AND LONG RUN COSTCURVES.Cost of ProductionMeaning:Cost of Production refers to the total money expenses(both explicit…