« previous next »

Author Question: Since demand curves are mostly downward sloping, economists tend to ignore the negative sign when ... (Read 80 times)

vHAUNG6011

  • Hero Member
  • *****
  • Posts: 514
on: Jun 30, 2018
Since demand curves are mostly downward sloping, economists tend to ignore the negative sign when calculating the price elasticity of demand.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Beth recently began running her husband's lumber mill. Last month she took in 5,000 in sales revenue and paid 3,400 in out-of-pocket costs. She made an economic profit last month if her implicit costs were:
 a. 1000.
  b. 1600.
  c. 2400.
  d. 3300.


hollysheppard095

  • Sr. Member
  • ****
  • Posts: 339
Reply #1 on: Jun 30, 2018
Answer to Question 1

True

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Negative control of an inducible set of genes: function of the lac repressor in regulating the lac o Negative control of an inducible set of genes: function of the lac repressor in regulating the lac o
Booker T. Washington in his office at Tuskegee Institute, 1900. Washington chose a policy of accommo Booker T. Washington in his office at Tuskegee Institute, 1900. Washington chose a policy of accommo
Negative feedback control of a regulated variable. Negative feedback control of a regulated variable.
When the exhaust is rich, the PCM applies a negative current into the pump cell. When the exhaust is rich, the PCM applies a negative current into the pump cell.
The demand for energy is met by burning coal and other fossil fuels The demand for energy is met by burning coal and other fossil fuels
Sample lod score curves Sample lod score curves
Video: Mendel's Principles of Inheritance (Father of Genetics)

For a complete list of videos, visit our video library