The Demand Function for Orange Juice Is Q = 269

question 6

Multiple Choice

The demand function for orange juice is q = 269 - 9p and the supply function is q = 9 + 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 $24 per unit by buying orange juice and destroying all that it has purchased.How many units must the government destroy per year?

• A)52
• B)56
• C)25
• D)61
• E)57

Apply the concept of categorical and quantitative data to real-world situations.

Recognize the ethical considerations and aims behind collecting data in different fields (health, education, consumer behavior).

Appreciate the relevance of accurately interpreting research results and statistics to avoid becoming misrepresented "statistics".

Identify and classify different types of data (categorical and quantitative).

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Definitions:

Equity Securities

Financial instruments representing ownership interest in a corporation, such as stocks, which confer certain rights like voting and profit sharing.

Specified Price

A determined cost set for a product or service, agreed upon by the seller and the buyer.

Rule 506

A provision of the Securities Act that allows companies to raise unlimited capital through private placements without extensive registration with the SEC.

Regulation D

A set of SEC regulations offering exemptions from the registration requirements for certain private placements of securities.