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First page of Economics Theory of Production and Cost Notes Zimbabwe

Economics Theory of Production and Cost Notes Zimbabwe

Study Economics notes on Theory of Production and Cost. Useful for revision, homework, and exam preparation in Zimbabwe.

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Subject: Economics
Document: Notes
File: PDF, 213 KB

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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.