Author Question: Flora's Flower Shop bought a new van for 23,000. Today, the market price of this van is 11,000. The ... (Read 65 times)

ARLKQ · **on:** Jun 29, 2018

Flora's Flower Shop bought a new van for 23,000. Today, the market price of this van is 11,000. The economic depreciation of the van is ________.

A) 23,000
B) 12,000
C) 11,000
D) 34,000

Question 2

Firms in perfectly competitive industries have a ________ individual demand curve when the price is on the vertical axis and the quantity is on the horizontal axis. The shape of the curve is result of the firm being a ________.

A) horizontal; price taker
B) downward sloping; price maker
C) vertical; price taker
D) downward sloping; price taker