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Determine a unique cost figure

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Reference no: EM132256611

In the theory of the firm, economists consider the total cost C to be a function of the output level Q, that is, C = f(Q).

(a) According to the definition of a function, should each cost figure be associated with a unique level of output?

(b) Should each level of output determine a unique cost figure?

Reference no: EM132256611

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