Suppose the Price of Vanilla Coke Increases by 9% and Quantity

question 165

Multiple Choice

Suppose the price of Vanilla Coke increases by 9% and quantity demanded falls by 13% overall but only by 4% for loyal Coca-Cola customers.This means that for the general public there are _____ for Vanilla Coke,but for loyal Coca-Cola customers,Vanilla Coke is more of a _____.This means that Coca-Cola will enjoy an increase in total revenue only from _____.

• A)several substitutes;necessity;loyal Coca-Cola customers
• B)few substitutes;luxury item;the general public
• C)no substitutes;necessity;the general public
• D)several substitutes;necessity;the general public

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Definitions:

Lightening

In pregnancy, the descent of the fetus into the pelvic cavity before the onset of labor.

Diaphragm

The diaphragm is a large, dome-shaped muscle located below the lungs that plays a crucial role in the respiratory process by helping to inhale and exhale air.

Oxytocin

Sometimes referred to as the "love hormone," it plays a significant role in facilitating social bonding, trust, and group cohesion.

Small-For-Date

A term describing infants whose birth weight is significantly lower than expected for the duration of the pregnancy.