Let the Price Elasticity of Demand for a Soft Drink

question 42

Multiple Choice

Let the price elasticity of demand for a soft drink be - 2. In the year 2005, the per capita consumption of soft drinks was about 500 cans per person, and the average price was $1.00 per can. If we suppose that demand for the soft drink is linear, Q^d = a - bP, where a and b are constants, Q^d is quantity demanded and P is price, an estimate of the demand equation could be:

• A) Q^d = 100 - 2P
• B) Q^d = 1500 - 2P
• C) Q^d = 1500 - 1000P
• D) Q^d = 1000 - 1500P

Identify strategies used by early unions and management in labor disputes.

Understand the major approaches to collective bargaining.

Identify the factors influencing the success of strikes.

Recognize the largest umbrella organization for national unions in the United States.

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