If the demand for orange juice is expressed as Q = 2000 - 500p, where Q is measured in gallons and p is measured in dollars, then at the price of $3, the demand curve
A) is elastic.
B) has a unitary elasticity.
C) is inelastic.
D) is perfectly inelastic.
A
Economics
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Government's role of protecting property rights is considered:
A) enforcing a legal system. B) providing certain goods and services. C) redistributing income. D) maintaining the money supply.
Economics
Suppose that a consumer is at an optimum consuming A and B. If the price of A falls, then to get to a new equilibrium the consumer must
A. purchase less A and more B. B. purchase more B. C. purchase more A. D. purchase less B and less A.
Economics