42) If an increase in income results in a rightward parallel shift of the demand curve, then at any given price, the price elasticity of demand will have A) increased in absolute terms. B) decreased in absolute terms. C) remained unchanged. D) increased, decreased or stayed the same. It cannot be determined. 43) If the demand function for orange juice is expressed as Q = 2000 ( 500p, where Q is quantity in gallons and p is price per gallon measured in dollars, then the demand for orange juice has a unitary elasticity when price equals A) $0. B) $1. C) $2. D) $4. %3D 2.00 0-S00 (3) (3) 44) 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 A)-0.33. (B)-3. C)-9. D)-17.
42) If an increase in income results in a rightward parallel shift of the demand curve, then at any given price, the price elasticity of demand will have A) increased in absolute terms. B) decreased in absolute terms. C) remained unchanged. D) increased, decreased or stayed the same. It cannot be determined. 43) If the demand function for orange juice is expressed as Q = 2000 ( 500p, where Q is quantity in gallons and p is price per gallon measured in dollars, then the demand for orange juice has a unitary elasticity when price equals A) $0. B) $1. C) $2. D) $4. %3D 2.00 0-S00 (3) (3) 44) 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 A)-0.33. (B)-3. C)-9. D)-17.
Chapter5: Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 1.1P: (Calculating Price Elasticity of Demand) Suppose that 50 units of a good are demanded at a price of...
Related questions
Question
Transcribed Image Text:42) If an increase in income results in a rightward parallel shift of the demand curve, then at any
given price, the price elasticity of demand will have
Alincreased in absolute terms.
B) decreased in absolute terms.
C) remained unchanged.
D) increased, decreased or stayed the same. It cannot be determined.
43) If the demand function for orange juice is expressed as Q = 2000 ( 500p, where Q is quantity
in gallons and p is price per gallon measured in dollars, then the demand for orange juice has a
unitary elasticity when price equals
A) SO.
B) S1.
(C) $2.
D) $4.
2.00 0-S00 (3)
2000-1000
44) 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
A)-0.33.
(BY-3.
C) -9.
D) -17.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
Recommended textbooks for you
Economics (MindTap Course List)
Economics
ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning
Economics (MindTap Course List)
Economics
ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning
