Concept of Cost !! Explicit and Implicit Cost !! लागत की अवधारणा !! स्पष्ट और निहित लागत !! скачать в хорошем качестве

Concept of Cost !! Explicit and Implicit Cost !! लागत की अवधारणा !! स्पष्ट और निहित लागत !!

Free Notes Download Link - https://t.me/jhansi_institute Microeconomics Chapter 8 Concept of Cost Explicit and Implicit Cost , लागत की अवधारणा , स्पष्ट और निहित लागत, Selling Cost and Production Cost Explicit cost and Implicit Cost, Microeconomics Cost Concept, Explicit and Implicit Cost Cost Refers to the Expenditure incurred by a producer (Explicitly or Implicitly) on the factor as well as non factor inputs for a given output of a commodity. Cost = Opportunity Cost Explicit and Implicit Cost Explicit Implicit Opportunity Cost of Hiring/purchasing inputs from the Market Opportunity Cost of Using Self Owned Inputs Payments Made by a Firm to others Market Value of Self Owned Inputs Selling Cost and Production Cost Selling costs refer to the expenditure incurred by the producer to promote sale of the commodity. Example: Expenditure on advertisement. Production costs refer to the expenditure incurred by a producer (explicitly or implicitly) on the inputs for producing a given level of output.