Definition
A minimum cost combination is a combination of production factors with which either a given production quantity can be produced at minimum cost or the largest possible quantity can be produced at a given cost. A minimum cost combination describes, as it were, the implementation of the economic principle in the production area of a company: realising a given goal with the minimum effort (minimum version) or achieving as much as possible with a given effort (maximum version).
The realisation of a minimum cost combination is a necessary step towards maximising the economic success of a company.
Bettina Dirks
