Consider the following statements
1. As the cutting speed increases, the cost of production initially reduces, then after an optimum cutting speed it increases.
2. As the cutting speed increases the cost of production also increases and after a critical value to it reduces.
3. Higher feed rate for the same cutting speed reduces cost of production.
4. Higher feed rte for the same cutting speed increases the cost of production.
Which of the statements given below are correct?
(a) 1 and 3 (b) 2 and 3
(c) 1 and 4 (d) 3 only