Minimisation of Cost.

1.	Minimisation of Cost.
Answer» x = Units of production, C = Production cost. The conditions for minimisation of cost are as follows: Necessary condition:\(\frac{ dC}{dx} = 0\) Sufficient condition: \(\frac{d^2C}{dx^2} > 0\) (Positive)

Answer»

x = Units of production,

C = Production cost.

The conditions for minimisation of cost are as follows:

Discussion

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