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Mam in ques 1 you minimised average cost but wrote total cost is minimised can you clarify what happened there pls
Question mentioned per unit cost, which is Average Cost. So, in this case average cost is minimized. But in total cost minimization cases, we find quantity where AC is minimum so that minimum total cost can be ascertained.
Mam in ques 1 you minimised average cost but wrote total cost is minimised can you clarify what happened there pls
Question mentioned per unit cost, which is Average Cost. So, in this case average cost is minimized. But in total cost minimization cases, we find quantity where AC is minimum so that minimum total cost can be ascertained.