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

Refer to Figure 11-15. Suppose Hilda produces 100 gooseberry pies. What is the marginal rate of technical substitution of labor for capital when labor is increased from 10 to 20 hours?

A) 1 unit of capital B) 10 units of capital C) 14 units of capital D) 24 units of capital

Which of the following is a valid argument for protection?

A) national defense B) fair trade C) creation of employment D) All of the above