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By Using the concept of generalized costs. how can air freight, which is typically more expensive...

By Using the concept of generalized costs. how can air freight, which is typically more expensive than other alternative modes for a given shipment, would actually have a lower total generalized cost?

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Generalized costs are the total costs of a journey including both monetary and non monetary costs. Monetary costs are the costs involving exchange of money like tickets, transport etc., Non monetary costs are time taken for the journey. When we consider time taken for the travel, it is much less than the other modes of transport . So when the generalized costs are calculated , non monetary costs makes air freight less than the other modes of transport.

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