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production cost
(redirected from Cost-of-production theory of value)

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Noun1.production cost - combined costs of raw material and labor incurred in producing goods
cost - the total spent for goods or services including money and time and labor


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To the extent that he attempted to do so, by exploring what today we might call the "microfoundations" of social cooperation, he was limited by his cost-of-production theory of value.
 
 
 
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