Which of the following will cause an increase in cost of production?

Assessment: JAMB UTME - Economics - 2023 Subject: Economics

Question 1 Report

Which of the following will cause an increase in cost of production?
Answer Details
Cost push inflation occurs when overall prices increase(inflation) due to increases in the cost of wages and raw materials. It can also occur when higher costs of production decrease the aggregate supply in the economy.
Read lesson note on Money And Inflation (WAEC)
Read lesson note on Theory Of Costs (JAMB)
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