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

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Definitions:

Political Risk

The risk of losing money due to changes in a country's political landscape or government policies that negatively affect investments.

International Diversification

The strategy of spreading investment risk by purchasing assets in various countries, aiming to reduce overall investment risk.

International Financial Management

The discipline concerned with managing financial resources in a global market, including investment, financing strategies, and risk management across borders.

Cultural Heritages

The legacy of physical artifacts and intangible attributes of a group or society that are inherited from past generations, maintained in the present, and bestowed for the benefit of future generations.