Respuesta :
Due to the cost savings that businesses realize, low cost strategies result in better profitability. Hence the appropriate choice of option would be option (d).
Give a brief account on Cost Of Production (COP).
All expenses a company incurred while producing a good or providing a service is regarded as cost of production (COP).
When a company adjusts production levels in response to predicted profits or losses, long-term costs mount. The costs of providing a good or service are determined by a variety of factors, including labor, land, and goods, and do not include any fixed manufacturing costs. When a company produces the most products at the lowest cost and with the biggest volume, a long-term cost is sustainably sustained. These expenses are impacted by a variety of factors, including firm growth or contraction, adjustments to the volume of production, and market exit or entry.
Real-time cost monitoring is possible during the production process. Only revenue and variable expenses have an effect on these costs. With variable costs and the production rate, short-run costs rise and fall. One of the finest methods to achieve excellent long-run costs and a company's overall goals is by managing short-term expenses.
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