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Author Question: At the midpoint of a downward sloping straight-line demand curve, the demand A) is elastic. B) ... (Read 57 times)

BRWH

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on: Jun 29, 2018
At the midpoint of a downward sloping straight-line demand curve, the demand
 
  A) is elastic.
  B) is unit elastic.
  C) is inelastic.
  D) has an elasticity exactly equal to zero.

Question 2

When the Smiths were shopping for their present home, the asking price from the previous owner was 250,000.00. The Smiths had decided they would pay no more than 245,000.00 for the house.
 
  After negotiations, the Smiths actually purchased the house for 239,000.00. They, therefore, enjoyed a consumer surplus of A) 239,000.00.
  B) 5,000.00.
  C) 6,000.00.
  D) 11,000.00.


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yahahah24021

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

B

Answer to Question 2

C


BRWH

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

smrtceo

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Reply 3 on: Yesterday
Excellent

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