Explain what is meant by the term cost function.
Question:
Explain what is meant by the term ‘cost function’.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 40% (10 reviews)
Definition A cost function is a formula commonly used to divine the cost to experience at a certain...View the full answer
Answered By
Juliah Kunyiha
I am holder of Bachelor of Commerce(Finance option) having graduated with a second class upper division. In addition. am a holder of Diploma in Business Administration. Moreover, I am currently working towards my C.P.A. finalist.
I have over five years experience as a tutor in various universities and colleges. I lecture on accounting, finance and business administration. My students are known to shine in the units I take them through.
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Explain what is meant by the term management by exception. What is the relationship between the process of standard cost variance analysis and management by exception?
-
Explain what is meant by the term earnings quality.
-
Explain what is meant by the term harvesting. What is involved in harvesting an investment in a privately held firm?
-
Data for Video Phones, Inc., are provided in P114A. Required: Prepare the statement of cash flows for Video Phones, Inc., using the direct method. Disclose any noncash transactions in an accompanying...
-
Does the separate identification of profit and other components of comprehensive income provide a meaningful distinction between the effects of different types of non-owner transactions and events?
-
Brainstorm a list of products that U.S. companies seem to make better than foreign competitors. Now do the same for products that foreign manufacturers seem to do a better job with. Can you spot any...
-
Calculate the energy density versus temperature very early in the universe when the temperatures were above \(k T=300 \mathrm{MeV}\). At those temperatures, quarks and gluons were released from...
-
Tomlinson Corporation is a biotech company based in Milpitas. It makes a cancer-treatment drug in a single processing department. Direct materials are added at the start of the process. Conversion...
-
The output of the following code is: var x=5; var y="10"; if (x < y ) { } alert("x < y"); else if (x > y) alert("x > y"); { } else{ alert("x = y"); }
-
If the indirect costs for each duration are $1,200 for 16 weeks, $1,130 for 15 weeks, $1,000 for 14 weeks, $900 for 13 weeks, $860 for 12 weeks, $820 for 11 weeks, and $790 for 10 weeks, compute the...
-
PLX Refinery Co is a large oil refinery business in Kayland. Kayland is a developing country with a large and growing oil exploration and production business which supplies PLX with crude oil....
-
Under what circumstances can the engineering method be used to estimate costs?
-
What kind(s) of particles make up (a) gaseous compounds, (b) liquid compounds, and (c) solid compounds?
-
A newly issue CMO's mortgage pool has a balance of $52.39 million with an average interest rate of 10.09% payable annually over a five-year term. There are two tranches. Priority payments will be...
-
Forecast Jones' 2007 financial statements and "External Funds Needed (EFN)" with the following assumptions: It is December 31, 2006 (so ignore 2007 first quarter case data) Sales will increase 20%...
-
Briefly discuss the importance of small and medium size enterprises to the economies in the Caribbean
-
A manufacturing company leases a building for $90000 per year for its manufacturing facilities. In addition, the machinery in this building is being paid for in installments of $22000 per year. Each...
-
Two independent situations follow. 1. On January 1, 2017, Spartan Inc. bought land that had an assessed value of $390,000 at the time of purchase. A $600,000, non-interest-bearing note due on January...
-
The tractor is used to lift the 150-kg load B with the 24-mlong rope, boom, and pulley system. If the tractor travels to the right at a constant speed of 4 m/s, determine the tension in the rope when...
-
Find an example of vertical integration within your city. Are there any particular a d vantages to this vertical integration? If so, what are they? If there are no advantages, how do you explain the...
-
What would happen if retailer-organized channels (either formally integrated or a d ministered) dominated consumer products marketing?
-
How does the nature of the product relate to the degree of market exposure desired?
-
1. Despite promising beginnings, the organic farm in Riverina is not a success. Four years after it is registered, DudCo becomes insolvent. DudCo's directors, David, Nick and Peter hold a...
-
Locate the Balance Sheet (it may have a different heading, such as the Statement of Financial Position). 1. What are the names of the assets and their values? 2. (if more than five line items, report...
-
Eight year-old Alex is learning to ride a horse. The trainer says that a horse ages 5 years for every 2 human years. The horse is now 50 years old in human years. a. Calculate the age of the horse,...
Study smarter with the SolutionInn App