Indicate whether each of the following statements is true or false and why (reasons in support of your answer):

(a)Management decision problems are not encountered by government agencies or non-profit organizations.

(b)Profit is a constraint on the operation of a firm.

(c)Accounting profit is generally lower than economic profit.

(d)In regression analysis, the dependent variable is used to predict the value of the independent variable(s).

(e)Peak-load pricing accommodates different groups of consumer with uniform demand functions.

(f)The form of the relationship between total, average and marginal functions is the same whether it is applied to total revenue, total cost, or profit.

(g)Marginal revenue reaches a maximum at the same level of output that total revenue reaches a maximum.

(h)If a firm is producing a level of output where marginal profit is equal to zero, then the level of output is optimal.

(i)A firm should continue to increase an activity so long as the total revenue from the activity exceeds the total cost of the activity.

(j)A firm's total revenue will increase if it raises the price of a product that has a price elasticity of demand equal to -0.7.