The Demand Function for Orange Juice Is Q = 247

question 11

Multiple Choice

The demand function for orange juice is q = 247 - 8p and the supply function is q = 19 + 4p, where q is the number of units sold per year and p is the price per unit, expressed in dollars. The government decides to support the price of orange juice at a price floor of $27 per unit by buying orange juice and destroying all that it has purchased. How many units must the government destroy per year?

• A) 105
• B) 104
• C) 40
• D) 96
• E) 101

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