Question

What are various Cost concepts
with suitable diagrams?​

Answer 1

Answer:

The different types of cost concept are: Outlay costs and Opportunity costs. Accounting costs and Economic costs. Direct/Traceable costs and Indirect/Untraceable costs. Incremental costs and Sunk costs.

Answer 2

Explanation:

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Outlay costs and Opportunity costs.

Accounting costs and Economic costs.

Direct/Traceable costs and Indirect/Untraceable costs.

Incremental costs and Sunk costs.

Private costs and Social costs.

Fixed costs and Variable costs.