What are various cost concepts? Give suitable diagrams
Answers
Answered by
3
Different Cost Concepts (An Overview)
The cost concepts which are relevant to business operations and decisions can be studied on the basis of their purpose, under two overlapping categories:
The fixed costs include:
Total cost represents the value of the total resource requirement for the production of goods and services. ...
Average cost:
Marginal cost:
The cost concepts which are relevant to business operations and decisions can be studied on the basis of their purpose, under two overlapping categories:
The fixed costs include:
Total cost represents the value of the total resource requirement for the production of goods and services. ...
Average cost:
Marginal cost:
Similar questions