The demand function for orange juice is q = 247

Question

The demand function for orange juice is q = 247 - 8p and the supply function is q = 19 + 4p, where q is the number of units sold per year and p is the price per unit, expressed in dollars.The government decides to support the price of orange juice at a price floor of $27 per unit by buying orange juice and destroying all that it has purchased.How many units must the government destroy per year?
A)105
B)104
C)40
D)96
E)101

Quizplus · Accepted Answer

The Answer of The demand function for orange juice is q = 247 - 8p and the supply function is q = 19 + 4p, where q is the number of units sold per year and p is the price per unit, expressed in dollars.The government decides to support the price of orange juice at a price floor of $27 per unit by buying orange juice and destroying all that it has purchased.How many units must the government destroy per year?
A)105
B)104
C)40
D)96
E)101