Suppose the Company That Owns the Vending Machines on Your

question 50

Multiple Choice

Suppose the company that owns the vending machines on your campus has doubled the price of a can of soda. They then notice that they are selling approximately 15 percent fewer sodas. The price elasticity of demand for sodas from the campus vending machines, therefore, is:

• A)inelastic.
• B)unit elastic.
• C)elastic.
• D)infinite.

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Definitions:

J. Stacy Adams

An American behavioral and workplace psychologist, known for developing equity theory on job motivation and satisfaction.

Process Theories

Theories focusing on the psychological and behavioral processes that motivate individuals to act in certain ways.

Content Theories

Theories that focus on understanding what motivates individuals by identifying specific factors that stimulate motivation.

Decision Making Theories

The study of the processes by which individuals come to make decisions, including models and approaches to understand these processes.