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Question

Which of these is not a determinant of cost of production?

A
Plant size
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B
Scale of production
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C
Input prices
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D
Consumer tastes and preferences
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Solution

The correct option is C Consumer tastes and preferences
Consumer tastes and preferences affect the demand of a good or service not the supply.As cost of production affects the supply of a good/service ,it is not a determinant of cost of production.

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