If the supply curve for orange juice is estimated to be Q = 40 + 2p, then

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If the supply curve for orange juice is estimated to be Q = 40 + 2p, then

If the supply curve for orange juice is estimated to be Q = 40 + 2p, then
A) supply is price elastic at all prices.
B) supply is price inelastic at all prices.
C) supply is elastic only at prices below 20.
D) No general statements about price elasticity of supply can be made.

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Microeconomics: Theory and Applications with Calculus

Edition: 4^th

Author: Perloff

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The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.

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