When a Class Declares an Entire Class as Its Friend

question 5

True/False

When a class declares an entire class as its friend, the friendship status is reciprocal. That is, each class's member functions have free access to the other's private members.

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Definitions:

ATC

The total cost per unit of output, calculated by dividing the total cost by the amount of output produced.

Long-Run Equilibrium

A state in which all factors of production are fully adjusted to the economic conditions, leading to a situation where there is no tendency for change.

Purely Competitive Firm

refers to a company that operates in a market where there are many buyers and sellers, no barriers to entry, and the product is a commodity, leading the firm to be a price taker.