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Understanding Cost of Production to Manage Risk, Maximise Profit

2013-02-08 01:00:00| ThePigSite - Industry News

US - Cost of production is a fundamental economic concept that applies to nearly any business model. Due to the high risk and slim profit margins of farm businesses, it is particularly important that producers understand the costs and potential revenue associated with each enterprise they manage, writes James DeDecker, Michigan State University Extension.

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