1.

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

Answer» (a) False

(b) True

(c) False

(d) True

(e) False


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