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Question

refers to the expenditure incurred by a producer on the goods produced.

A
Cost price
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B
Retail price
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C
Selling price
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D
Minimum price
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Solution

The correct option is A Cost price
Cost or cost price refers to the expenditure incurred by a producer on the goods produced. In other words, the amount spent in terms of money from the production of goods till their sale is called cost.

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