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

Economics

JAMB 2023

A. Hyper-inflation
B. Cost push inflation
C. Structural inflation
D. Demand pull inflation

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Correct Answer: Option B

Explanation

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.

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

Correct Answer: Option B

Explanation

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