According to the Article "What's Behind Starbucks' Price Hike?" in October

question 33

Multiple Choice

According to the article "What's Behind Starbucks' Price Hike?" in October 2006,Starbucks raised the price of its lattes,cappuccinos,drip coffee,and other drinks because of increases in wages and fuel costs.When it chose to hike prices,Starbucks was

• A)Losing sales to its competitors and therefore needed higher prices to maintain revenue.
• B)Relying on the economy to improve in order to offset the loss in sales as a result of the price hikes.
• C)Relying on brand loyalty to prevent a significant loss in sales.
• D)Relying on very elastic demand.

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