Suppose That the Company That Owns All of the Vending

question 14

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,but they still sell almost the same number of sodas per day because:

• A)students do not have good nutritional information.
• B)soda purchases represent a large fraction of students' budgets.
• C)there are few other places to purchase soda on campus.
• D)price elasticity of demand for soda is almost unitary.

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Definitions:

Economic Development

The process by which the economic well-being and quality of life of a nation, region, or local community are improved according to targeted goals and objectives.

Environmentally Harmful

Refers to actions or processes that negatively impact the environment, causing pollution, degradation, or destruction of ecosystems.

Ecological Footprint

A measure of human demand on Earth's ecosystems, quantifying the amount of natural resources consumed and waste generated by individuals or groups.

Productive Land

Refers to land that is capable of producing crops, livestock, or other agricultural goods.