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Costs of Production

Costs of Production

by | Oct 31, 2021 | economics, microeconomics

What are the costs of production? In Microeconomics, there are 4 types of costs: 1. fixed costs 2. variable costs 3. total cost 4. average costs 5. marginal costs Fixed Costs Fixed costs are the same if you are open for business or not: rent, food, utility bills....
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