Question: Are the following statementsTrue / False / Uncertain? Support your answer with explanation. 1.It is even better for a perfectly competitive firm to produce output

Are the following statementsTrue / False / Uncertain? Support your answer with explanation.

1.It is even better for a perfectly competitive firm to produce output even though it is loosing money.

2.If the output elasticity of the total cost is less than one, we have disec- onomies of scale.

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