When the Price of a Pound of Oranges Is $1

question 63

Multiple Choice

When the price of a pound of oranges is $1.00, 7500 pounds of oranges are demanded. When the price of a pound of oranges decreases to $0.80, 10,000 pounds of oranges are demanded. In this price range the demand for oranges is

• A) elastic.
• B) inelastic.
• C) unit elastic.
• D) perfectly elastic.

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Definitions:

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A system of communication used by a particular country or community.

Mathematics

The abstract science of numbers, quantity, and space, either as abstract concepts (pure mathematics) or as applied to other disciplines such as physics and engineering (applied mathematics).

Comprehension

The mental process of understanding, integrating, and grasping meanings from information or experiences.

SIDS

Sudden Infant Death Syndrome, an unexplained death, usually during sleep, of a seemingly healthy baby less than a year old.