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Author Question: Since it is always a negative number, economists use the convention of taking the absolute value of: ... (Read 65 times)

kshipps

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on: Jun 30, 2018
Since it is always a negative number, economists use the convention of taking the absolute value of:
 a. income elasticity of demand.
  b. cross price elasticity of demand.
  c. price elasticity of supply.
  d. price elasticity of demand.
  e. any elasticity calculation.

Question 2

As one moves down a straight-line, down-sloping demand curve, price elasticity will:
 a. change from elastic, to unit elastic, then to inelastic.
  b. remain the same between any two points.
  c. change from inelastic, to elastic, then to unit elastic.
  d. change from unit elastic, to elastic, then to inelastic.
  e. change from elastic, to inelastic, then to unit elastic.


jlaineee

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

d

Answer to Question 2

a


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