$\mathrm{<span><font\; face="Open\; Sans,\; sans-serif"> </font> <span>What\; do\; vou\; mean\; by\; cost\; function\; and\; for\; what\; purpose\; does\; it\; serve\; for?\; What\; are\; the\; various\; methods\; used\; to\; estimate\; cost\; functions?\; Explain\; each\; method\; with\; suitable\; numerical</span></span>}$

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A cost function is a mathematical function that relates the cost of producing a certain quantity of goods to the factors that influence that cost such ... View the full answer