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Hello sir ,
I know its too much to ask for, but can you please give some idea to tackle if a
Cost minimisation objective is asked.The only thing that I know about cost minimization is that ISO contribution line should move away from the origin.
Usually we want to maximise the contribution, so we draw the contribution line and move it as far away from the origin as possible because the further away it is then the higher will be the total contribution.
If instead we want to minimise the cost, then we draw the cost line and move it as close to the origin as possible because the closer it is then the lower will be the total cost.
(But remember that you can never be asked to draw any graphs in the exam)
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