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Revenue functions independent variable is the output

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Reference no: EM13796418

TRUE OR FALSE QUIZ

1. Revenue Function's Independent Variable is the Output.

2. Cost Function's Independent Variable is the Output.

3. Cost Equation's Independent Variable is the Output.

4. Marginal Revenue is the Price in all cases.

5. Firm's Supply Curve is the average Cost Curve.

6. Consumer Surplus is a surplus vale of buying less than market price.

7. Producer Surplus is a surplus value of selling higher than market price.

8. De Bears Diamonds Co. is the Natural Monopoly.

9. Copy Rights are the Natural Monopoly.

10. Water Supply is the Natural Monopoly.

Reference no: EM13796418

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