Explain the cost function in briefly
Explain the cost function in briefly.
Expert
The relationship in between cost and output is technically termed as cost function, here as:
TC = f (Q) TC= Total cost,
Now here: F is the function of, Q is the Quantity produced.
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While an economic change creates one person worse off without influencing anyone else, this is: (w) good for society. (x) an inefficient change. (y) neither bad nor good for society. (z) strictly a macroeconomic issue. Discover Q & A Leading Solution Library Avail More Than 1439436 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1946010 Asked 3,689 Active Tutors 1439436 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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