Production is related to costs. In fact, cost function can be derived from estimated production function. In view of empirical determination of production function, can you think of some limitations of statistical analysis relating to cost function? Apart from limitations also explain how these estimated cost function is useful to a manager

Statistical analysis of production functions and the subsequent derivation of cost functions from them have their limitations in empirical settings. …

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Documentary Credit

Documentary credit, commonly known as a letter of credit (LC), is a financial instrument widely used in international trade transactions …

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