ECS 1500 ASSIGNMENT 2

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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...