MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Value Added Method

Define produc...

Question

Define production cost.

Open in App

Solution

Production cost refers to the expenditure incurred by the producer (explicitly or implicitly) on the inputs for producing a given level of output.

Suggest Corrections

thumbs-up

1

Similar questions

Define the following with examples.

1. No cost production.

2. Low cost production.

3. High cost production.

Define cost.

Q. Define opportunity cost.

Q. Define fixed cost.

Define total opportunity cost.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Value Added Method

ECONOMICS

Watch in App

explore_more_icon

Explore more

Value Added Method

Standard XII Economics

Join BYJU'S Learning Program

CrossIcon