Before revision: cost of operation is the cost acquired in completing one operation it may be a conversion of inputs into the outputs or labor costs etc.., if cost of operation is low then it is easy to maintain cost leadership and gain the market with competitive advantag
After revision: cost of operation is the cost acquired in completing one operation it may be a conversion of inputs into the outputs or labor costs etc.., if cost of operation is low then it is easy to maintain cost leadership and gain the market with competitive advantage.