Multiple Choice
Suppose the company that owns the vending machines on your campus has doubled the price of a can of soda. If they then still sell almost the same number of sodas per day, this suggests:
A) students do not have good nutritional information.
B) soda purchases represent a large fraction of students' budgets.
C) there are few other places to purchase soda on campus.
D) the price elasticity of demand for soda is equal to 1.
Correct Answer:
Verified
Correct Answer:
Verified
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