Some techniques of production that can influence cost include the choice of technology, the scale of production, and the efficiency of the production process. The choice of technology can significantly impact the cost as different technologies have different levels of efficiency and require different amounts of resources. The scale of production can also influence cost as larger scales often allow for economies of scale, which can reduce the cost per unit. Lastly, the efficiency of the production process can influence cost as more efficient processes can reduce waste and improve productivity, thereby reducing costs.
Maximize profitability with our Cost Management presentation. This deck includes frameworks and char...
Download template