Basic of the difference between the concept of market price and factor – InterviewSolution

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1.	Basic of the difference between the concept of market price and factor cost
Answer» Factor cost is the total amount which the manufacturer had to invest in PRODUCTION of a good or commodity. It doesn't include any taxes imposed on the final product. But, the market PRICE is the final cost at which the manufacturer sells the GOODS to customers. And these are inclusive of all the applicable taxes.

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