ECS 1500 ASSIGNMENT 2
Johns Hopkins University
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ECS 1500 ASSIGNMENT 2
- Exam (elaborations) • 11 pages • 2021
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Assignment 02 (second semester) 
ASSIGNMENT 02 (SECOND SEMESTER) 
UNIQUE NUMBER 
CLOSING DATE 
LEARNING UNITS 
WEIGHT FOR SEMESTER MARK 
NUMBER OF QUESTIONS 
18 September 2020 
5 to 7 
30% of semester mark 
20 
2.1 When calculating price elasticity of demand the answer will always be negative, because the demand 
curve has a downward slope. 
[1] True 
[2] False 
Explanation: Price elasticities of demand are always negative since price and quantity demanded 
always move in opposite directions (o...
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