Economy, asked by tanuja61, 4 months ago

cost function refers to a functional relationship between cost and___

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Answered by AIMANRASHEED

Answer:

"Output" is the required answer.

Answered by shubham1317

Answer:

Cost function refers to the functional relationship between cost and output. It studies the behaviour of cost at different levels of output, when technology is assumed to be constant. It can be expressed as under: C=f(Q) Here, C= Cost of production; and Q. = Quantum of output.

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