Minimum attainable costs Minimum attainable costs

Minimum attainable costs

Minimum attainable costs

Arry one who has managed a business knows tM when we write down • cost schedule like the one in Table 7-1, we make the firm’s job took :altogether too simple.Wtr{ is this so~ Beuse much hard work II s behind Table 7-1.To .tttain the lowest !evei of cosu, the timl’, managers have to m.tke SUM that they are paying the leut possible amount for “Kessary materials. that the lowest·cost engineering techniques are incorporated into the factory layout, that employees are being honest, and that countless other decisions are made in the most economical fashion. As a re- .suit of such managerial effort. the fixed and variable cosu
shown in Table 7-1 are the minimum cosu necessary for the firm to produce that le¥el of output.

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