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Measuring Cost: Which Costs Matter?

Measuring Cost: Which Costs Matter?. Economic Cost vs. Accounting Cost. Accounting Cost : Actual expenses plus depreciation charges for capital equipment Economic Cost: Cost to a firm of utilizing economic resources in production, including opportunity cost.

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1.23k views • 31 slides

Farm Management

Farm Management. Chapter 8 Economic Principles ? Choosing Input and Output Combinations. Chapter Outline. Input Combinations Enterprise Combinations. Input Combinations. Most products require two or more inputs, and the manager may choose the input combination or ratio to use.

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556 views • 28 slides

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K1 q1 c2 c1 - PowerPoint PPT Presentation

Measuring Cost: Which Costs Matter?

Farm Management