Recall the Application About the New Vending Machine Developed by Coca

question 39

Multiple Choice

Recall the Application about the new vending machine developed by Coca -Cola that charges a higher price for soft drinks when the weather is hot to answer the following question(s) .
-Recall the Application. When the Coca-Cola Company developed new vending machines that could sense heat and charge a higher price, it was:

• A)identifying technological consumers who are thought to have a more inelastic demand.
• B)identifying hot-day consumers who are thought to have a more inelastic demand.
• C)identifying technological consumers who are thought to have a more elastic demand.
• D)identifying hot-day consumers who are thought to have a more elastic demand.

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Definitions:

Technology

The application of scientific knowledge for practical purposes, especially in industry and in the creation of devices or processes that improve efficiency or quality of life.

Growth

A process whereby an economy's capacity to produce goods and services increases over time.

Population Growth

The increase in the number of individuals in a population, often measured as the change in the total number of residents over a specific time period.

Incentives

Factors, monetary or non-monetary, that motivate individuals or entities to perform certain actions or behave in a desired way.