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Author Question: The demand for mansions is elastic because a small percentage change in price results in a large ... (Read 131 times)

jessicacav

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on: Jun 30, 2018
The demand for mansions is elastic because a small percentage change in price results in a large change in quantity demanded.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

If there are zero implicit costs, accounting profits _________economic profits.
 a. Are greater than
 b. Are equal to
 c. Are less than
 d. Have no inherent relationship to


bblaney

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Reply #1 on: Jun 30, 2018
Answer to Question 1

True

Answer to Question 2

b


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