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Doctors Medicines MCQs Q&A

  1. nonlinear cost function
  2. linear cost function
  3. linear price function
  4. nonlinear price function
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1 Answers

Answer: Option 1

Cost function, in which graph of total cost would not result in straight line is classified as nonlinear cost function. A nonlinear cost function is a cost function where, within the relevant range, the graph of total costs versus the level of a single activity related to that cost is not a straight line.

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