Author Question: The relationship between inputs used by a firm and output produced is given by the cost function. ... (Read 131 times)

rachel9 · **on:** Jun 30, 2018

The relationship between inputs used by a firm and output produced is given by the cost function.
Indicate whether the statement is true or false

Question 2

Each firm under monopolistic competition produces a unique product which does not have a close substitute.
a. True
b. False
Indicate whether the statement is true or false