If the demand curve 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, elasticity equals

If the MPS = 0.2, the multiplier would be

A) 0.5. B) 1. C) 2. D) 5.

Why would the supply curve of a dog-walking business be considered elastic?

(A) Because it can hire workers quickly if the price rises. (B) Because the supply of dogs changes quickly. (C) Because the supply of dog walking isn't easily expanded or reduced. (D) Because the demand for dog-walking services fluctuates.