If a Soda Tax Is Implemented and Demand for Soda

question 78

Multiple Choice

If a soda tax is implemented and demand for soda is price elastic, the effect on discouraging soda consumption would be ________ and ________ tax revenue would be collected than if demand were inelastic.

• A)larger; more
• B)larger; less
• C)smaller; more
• D)smaller; less

Understand how repeated interactions affect strategy and equilibrium.

Grasp the theoretical underpinnings and applications of game theory in real-world scenarios.

Understand the basic principles of game theory and its applicability.

Identify and analyze Nash equilibria in various strategic situations.

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Definitions:

Leadership Categorization Theory

A theory that suggests people make leadership determinations based on how closely the characteristics of leaders match stereotypes or prototypes of leaders held by society or individuals.

Discrimination

Unjust or prejudicial treatment of different categories of people, often based on race, age, sex, or disability.

Bias

Prejudice in favor of or against one thing, person, or group compared with another, usually in a way considered to be unfair.

Initiating Structure

Leadership behavior that involves setting goals, giving directions, and establishing clear standards of performance for team members.