Determine Whether the Equation Defines Y as a Function of X

question 17

Multiple Choice

Determine whether the equation defines y as a function of x.
- $$x + y ^ { 3 } = 27$$

• A) \(y\) is a function of \(x\)
• B) \(y\) is not a function of \(x\)

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Definitions:

Economic Profits

The excess of total revenues over total costs, including both explicit and implicit costs, indicating a return above the firm's opportunity costs.

Average Rate

The mean value of a set of rates or percentages, calculated as the sum of all rates divided by the number of rates.

Above Average Profits

Earnings that surpass the norm or average level within a particular industry or market.

Perfectly Elastic Demand

A market situation where demand for a product can drastically change to infinity with the slightest change in its price.