« previous next »

Author Question: Since demand curves are mostly downward sloping, economists tend to ignore the negative sign when ... (Read 34 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?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

Only 12 hours after an egg cell is fertilized by a sperm cell, the egg cell starts to divide. As it continues to divide, it moves along the fallopian tube toward the uterus at about 1 inch per day.

Did you know?

The term bacteria was devised in the 19th century by German biologist Ferdinand Cohn. He based it on the Greek word "bakterion" meaning a small rod or staff. Cohn is considered to be the father of modern bacteriology.

Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

negative feedback negative feedback
Gram negative flowchart Gram negative flowchart
Although males tend to be larger than females, the two overlap significantly in size. The size of a Although males tend to be larger than females, the two overlap significantly in size. The size of a
Control of thyroxine secretion through negative feedback. Control of thyroxine secretion through negative feedback.
Cooperative vs. noncooperative O2-binding curves Cooperative vs. noncooperative O2-binding curves
Sign and symptoms of a patient with heart failure Sign and symptoms of a patient with heart failure
Video: The Vestibular System

For a complete list of videos, visit our video library