Charlie Will Purchase 10 Percent More Cans of Coke If

question 159

Multiple Choice

Charlie will purchase 10 percent more cans of Coke if the price of a can of Coke falls by 5 percent. Charlie's price elasticity of demand for cans of Coke is:

• A) 10.
• B) 5.
• C) 2.
• D) 1/2.

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Definitions:

Cyanobacteria

A phylum of bacteria that obtain their energy through photosynthesis and are known for being one of the largest and most important groups of bacteria on earth.

Anaerobic Bacteria

Bacteria that can live and grow in the absence of oxygen, often found in environments such as deep underwater sediments or the human gastrointestinal tract.

Archaea

Prokaryotic organisms that are members of the domain Archaea.

Endospores

Durable, non-reproductive structures formed within some bacteria, enabling them to survive extreme conditions.