Theory of Production and Cost

In economics, the theory of production and cost states that the cost of a product is determined by the sum total of the cost of all the resources that went into making it. There are multiple factors to be considered when determining the cost of a product. The various theories and types of costs that come under this topic are given as follows. Let’s study them in a more detailed manner.

Share with friends

Customize your course in 30 seconds

No thanks.