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Question
Even though price elasticity of demand is always , by convention its absolute value is always discussed as a .
A) negative; prime number
B) positive; negative number
C) a fraction; whole number
D) negative; positive number
Answer
This answer is hidden. It contains 1 characters.
Related questions
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Q:
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Q:
Why should a perfect competitor produce at which price equals marginal cost?
Q:
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Q:
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Q:
Suppose that during a given time period the implicit cost for a business was $1,500 and that the explicit cost was $6,000. Also suppose that the firm sold 1,000 units of its products at $7 per item. We can conclude that the firmʹsA) accounting profit was $1,000, and its economic profit was -$500. B) accounting and economic profits were both $1000.C) accounting profit was -$500, and economic profit was $1,000. D) accounting profit was $1000, and economic profit was -$1,500.
Q:
ʺThe slope of the demand curve gives the elasticity of demand.ʺ Do you agree or disagree?
Why?
Q:
Which of the following type of shops is unlawful under the provisions of the Taft -Hartley Act?A) union shops B) closed shopsC) modified union shops D) open shops