Accountancy, asked by achyutakrishnan5388, 1 year ago

Distinguish between marginal costing and standard costing

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Answered by DevidArya
1
It would be inefficient to produce goods when the marginal benefit is less than themarginal cost. Therefore an efficient levelof product is achieved when marginalbenefit is equal to marginal cost. Consumer surplus represents thedifference between what a consumer iswilling to pay and the actual price paid
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