Costs can be defined as total payments made to workers, landowners, and capital suppliers less payments to the entrepreneur for organizing and combining the other resources used to produce a good.

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Frank Jones Jr · Accepted Answer

Final Answer : False, Explanation :  Costs include all payments made to workers, landowners, and capital suppliers, as well as payments to the entrepreneur for organizing and combining the other resources used to produce a good. The entrepreneur's reward is considered a cost of production.

Costs can be defined as total payments made to workers, landowners, and capital suppliers less payments to the entrepreneur for organizing and combining the other resources used to produce a good.

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