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Author Question: The opportunity cost of a hot dog in terms of hamburgers is the A) ratio of the slope of the ... (Read 35 times)

tuffie

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  • Posts: 534
on: Jun 29, 2018
The opportunity cost of a hot dog in terms of hamburgers is the
 
  A) ratio of the slope of the demand curve for hot dogs to the slope of the demand curve for hamburgers.
  B) ratio of the slope of the supply curve for hot dogs to the slope of the supply curve for hamburgers.
  C) money price of a hot dog minus the money price of a hamburger.
  D) ratio of the money price of a hot dog to the money price of a hamburger.

Question 2

The price elasticity of demand is calculated as the absolute value of the
 
  A) percentage change in quantity demanded divided by the percentage change in price.
  B) percentage change in price divided by the percentage change in quantity demanded.
  C) change in quantity demanded divided by the change in price.
  D) change in price divided by the change in quantity demanded.


kilada

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  • Posts: 311
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

A


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