Question

In 'Should Cost' Modeling, the concept of Theoretical Minimum Cost is the lowest cost at which a product or service can be manufactured with the absolute minimum of.

Answer 1

The Theoretical Minimum Cost in 'Should Cost' Modeling is the lowest cost at which a product or service can be manufactured with the absolute minimum of resources or inputs.

Step-by-step explanation:

In 'Should Cost' Modeling, the concept of Theoretical Minimum Cost is the lowest cost at which a product or service can be manufactured with the absolute minimum of resources or inputs. It represents the most efficient way to produce a product or service, considering factors such as raw materials, labor, and overhead costs.