We Would Expect the Cross Elasticity of Demand for Pepsi

question 133

Multiple Choice

We would expect the cross elasticity of demand for Pepsi to be greater in relation to other soft drinks than that for soft drinks in general because

• A)soft drinks are normal goods.
• B)the income effect always exceeds the substitution effect.
• C)there are fewer good substitutes for soft drinks as a whole than for Pepsi specifically.
• D)there are more good substitutes for soft drinks as a whole than for Pepsi specifically.

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Definitions:

Internalized Racism

The personal conscious or subconscious acceptance of the racial stereotypes and biases of the dominant culture, causing individuals to act against their own ethnic group.

Minority Group Members

Individuals belonging to a sociodemographic group that experiences discrimination, social disadvantage, or is numerically less than the majority group within a society.

Prejudiced

A preconceived opinion or judgment about someone or something that is not based on reason or actual experience, often manifesting in negative or discriminatory beliefs.

Institutional Discrimination

Discrimination that has been embedded into the policies, laws, and practices of social institutions, resulting in unfair treatment of individuals based on their group identity.