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:

Federal Government

The national government of the United States, formed by the Constitution, which divides power between the executive, legislative, and judicial branches.

Bankrupt

A legal status for individuals or entities that cannot repay the debts they owe to creditors, leading to legal processes to address these outstanding debts.

Alien and Sedition Acts

A series of laws passed in 1798 that permitted the deportation of foreigners deemed dangerous and criminalized making false statements against the federal government.

Critics

Individuals who evaluate or analyze works in various fields such as literature, art, and food, often providing opinions or insights.