True or False

( ) 1. Opportunity cost is the cost of earning the opportunity.

( ) 2. Marginal Cost(MC) and Average Cost(AC) meet at the lowest MC.

( ) 3. Economies of Scope decreases production cost by increasing production.

( ) 4. Economies of Scale is the case for decreasing Short-Run Average Cost.

( ) 5. Profit Function's Independent Variable is the Output.

( ) 6. Production Function's Independent Variable is the Output.

( ) 7. Cost Function's Independent Variable is the Output.

( ) 8. Cost Equation's Independent Variable is the Output.

( ) 9. Marginal Revenue is the Price in all cases.

( ) 10. Firm's Supply Curve is the average Cost Curve.

( ) 11. Consumer Surplus is a surplus vale of buying less than market price.

( ) 12. Producer Surplus is a surplus value of selling higher than market price.

( ) 13. The firms demand is the market demand in perfect competition market.

( ) 14. The regulation on monopoly is done by government administration.

( ) 15. Water supply is not Monopoly.

( ) 16. Monopoly Price is the same level where MR meets MC.

( ) 17. Monopoly Demand is the Average Revenue.

( ) 18. Airline Ticket is the Peak-Load Pricing.

( ) 19. Amusement park fees are two-parts tariffs.

( ) 20. Electricity is the inter-temporal pricing.

( ) 21. Oligopoly quantity is the same level where MR and MC meet.

( ) 22. Cartel is oligopoly.

( ) 23. Reaction Curve is the producer's production reaction to consumption.

( ) 24. Prisoners dilemma game is a game where both sides have to choose with own best intrests.

( ) 25. Monopolistic Competition is where few sellers compete with same output.

( ) 26. As Bond Price increases, Bond Yield increases.

( ) 27. Principals have more information than agents.

( ) 28. Externalities are not good always to market economy.

( ) 29. Demand for labor is a derived demand.