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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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