If the demand for orange juice is expressed as Q = 2000 - 500p, where Q is measured in gallons and p is measured in dollars, then at the price of $3, the demand curve
A) is elastic.
B) has a unitary elasticity.
C) is inelastic.
D) is perfectly inelastic.
A
You might also like to view...
In 2008, the liquidity of mortgage-backed securities declined significantly. Make use of a graph of the bond market to show how this affected the price of mortgage-backed securities
What will be an ideal response?
To manufacture 1,000 pairs of shoes in a week, a firm can use 1,500 workers and 50 machines or 100 machines and 2,000 workers. Which method is more technically efficient?
A. 2,000 workers and 100 machines B. 1,500 workers and 50 machines C. Both are equally efficient. D. Neither could be considered efficient.
Refer to the information provided in Table 23.10 below to answer the question(s) that follow. Table 23.10
Refer to Table 23.10. The MPC in this economy is
A. 0.5. B. 0.6. C. 0.75. D. 0.8.
A tax inversion merger ________ legally reduce the combined firms' taxes and these mergers ________.
A) can; are only horizontal mergers B) cannot; are only vertical mergers C) can; can be horizontal or vertical mergers D) cannot; can be horizontal or vertical mergers