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:

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