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Calculate economic cost. {:(,"(Rs)"),(...

Calculate economic cost.
`{:(,"(Rs)"),("(i)Purchase of raw materials",200),("(ii)Payments of wages and salaries",500),("(iii)Payment of rent",50),("(iv)Donations",100),("(v)Estimated value of services of owner",300),("(vi)Expected minimum profit",40),("(vii)Estimated super normal profit",240):}`

Text Solution

Verified by Experts

The correct Answer is:
Economic cost `=(i)+(ii)+(iii)+(v)+(vi)=200+500+30+300+40=rs1090`
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