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) $0. B) $1. C) $2. D) $4. %3D 2.00 0-So0 (3) 2000-100O 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 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) $0. B) $1. C) $2. D) $4. %3D 2.00 0-So0 (3) 2000-100O 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.
Chapter6: Elasticities
Section: Chapter Questions
Problem 1P
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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) $O.
B) $1.
C) $2.
D) $4.
2.00 0-S00 (3)
2000 - 100
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.
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