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Say True or False.(a) Average cost function AC = MC/x(b) Total cost function C = ∫(MC) dx + k (c) Demand function = P = Rx (d) Elasticity of demand ηd = -p/x dx/dp(e) Under market equilibrium x0 = p0 |
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Answer» (a) False (b) True (c) False (d) True (e) False |
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