Suppose That the Company That Owns All of the Vending

question 3

Multiple Choice

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

• A)inelastic
• B)unitary elastic
• C)elastic
• D)infinite

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