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Author Question: Because a competitive firm is a price taker, it faces a demand curve that is: a. perfectly ... (Read 83 times)

Cooldude101

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on: Jun 30, 2018
Because a competitive firm is a price taker, it faces a demand curve that is:
 a. perfectly inelastic.
  b. relatively inelastic.
  c. relatively elastic.
  d. perfectly elastic.

Question 2

The sign of the price elasticity coefficient for a normal good will:
 a. always be negative.
  b. always be positive.
  c. be positive if demand is elastic but negative if demand is inelastic.
  d. be positive if demand is inelastic but negative if demand is elastic.


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dpost18

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

d

Answer to Question 2

b


Cooldude101

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

laurnthompson

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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