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Author Question: Since demand curves are mostly downward sloping, economists tend to ignore the negative sign when ... (Read 88 times)

vHAUNG6011

  • Hero Member
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  • Posts: 514
on: Jun 30, 2018
Since demand curves are mostly downward sloping, economists tend to ignore the negative sign when calculating the price elasticity of demand.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Beth recently began running her husband's lumber mill. Last month she took in 5,000 in sales revenue and paid 3,400 in out-of-pocket costs. She made an economic profit last month if her implicit costs were:
 a. 1000.
  b. 1600.
  c. 2400.
  d. 3300.


hollysheppard095

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  • Posts: 339
Reply #1 on: Jun 30, 2018
Answer to Question 1

True

Answer to Question 2

a


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