Acknowlegement of concept of cost chapter for class 11th
Microeconomics
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Cost refers to the expenditure incurred by a producer on the factor as well as non factor input for a given output of a commodity .
⏩Total cost➡️ Explicit cost +Implicit cost
Cost refers to the expenditure incurred by a producer on the factor as well as non factor input for a given output of a commodity .
⏩Total cost➡️ Explicit cost +Implicit cost
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