If the Demand Function for Orange Juice Is Expressed as Q

question 2

Multiple Choice

If the demand function for orange juice is expressed as Q = 2000 - 500p,where Q is quantity in gallons and p is price per gallon measured in dollars,then the demand for orange juice has a unitary elasticity when price equals

• A) $0.
• B) $1.
• C) $2.
• D) $4.

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Definitions:

Water Vapor

Water in its gaseous form, present in the atmosphere and involved in the Earth's water cycle and weather processes.

Porosity

The percentage of the volume of a rock, sediment, or soil that is open space (pore space).

Poorly Sorted

Describes sediment or sedimentary rock that contains particles of many different sizes, indicating a rapid and tumultuous deposition.

Rounded Cobbles

Naturally smoothed and rounded small rocks, typically found in riverbeds or beaches, formed by the action of water.