If a 10 percent increase in the price of tomatoes leads to a 20 ...

[Alainaaa8]

If a 10 percent increase in the price of tomatoes leads to a 20 percent decrease in quantity demanded, then the price elasticity of demand for tomatoes, , equals -2.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

There are two types of costs associated with production: ____ costs that require monetary payments, and ____ costs that do not.
 a. implicit; accounting
  b. accounting; explicit
  c. implicit; explicit
 d. explicit; implicit

[softEldritch]

Answer to Question 1

True

Answer to Question 2

d

[Alainaaa8]

Thank you

[softEldritch]

No problemo