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Author Question: If the price of chocolate increases by 15 percent and the quantity demanded of chocolate declines by ... (Read 161 times)

CORALGRILL2014

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on: Jun 30, 2018
If the price of chocolate increases by 15 percent and the quantity demanded of chocolate declines by 5 percent, the price elasticity of demand ( ) is -3.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Accountants calculate __________ differently than do economists:
 a. Total revenue.
 b. Total costs.
 c. Profits.
 d. Both total costs and profits.


frre432

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

False

Answer to Question 2

d


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