Unless goods are Giffen goods, own-price elasticities of demand are always negative.
Answer the following statement true (T) or false (F)
True
Rationale: The sign of the own-price elasticity is negative when demand curves slope down and positive when they slope up. Demand curves slope up only for Giffen goods.
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All of these are true, except
a. If production exhibits diseconomies of scope, firm should pair down production line to reduce costs. b. If production exhibits diseconomies of scope, firm should pair up production line to reduce costs. c. If production exhibits economies of scope, firm should pair up production line to reduce costs. d. If production exhibits economies of scope, firm should pair down production line to increase costs.
A depreciation of one's currency means that:
A. the country's exports will become more expensive. B. the country's imports will become more expensive. C. the country's imports will become less expensive. D. it now requires less of this currency in exchange for one unit of another currency.