Abstract
Costs are the monetary value of input used over a period of time. A company’s costs can be derived from the production function.
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The accounting principles are further discussed in the Appendix on Profit concepts.
Reference
Chambers, R. G. (1988). Applied production analysis: A dual approach. New York: Cambridge University Press.
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© 2013 Springer-Verlag Berlin Heidelberg
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Rasmussen, S. (2013). Costs. In: Production Economics. Springer Texts in Business and Economics. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-30200-8_5
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DOI: https://doi.org/10.1007/978-3-642-30200-8_5
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