Since demand curves are mostly downward sloping, economists tend ...

[vHAUNG6011]

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]

Answer to Question 1

True

Answer to Question 2

a