Suppose the Price of Vanilla Coke Increases by 9% and Quantity

question 21

Multiple Choice

Suppose the price of Vanilla Coke increases by 9% and quantity demanded falls by 13% overall but only by 4% for loyal Coca-Cola customers. This means that for the general public there are _____ for Vanilla Coke, but for loyal Coca-Cola customers, Vanilla Coke is more of a _____ item. This means that Coca-Cola will enjoy an increase in total revenue only from _____.

• A) several substitutes; necessity; loyal Coca-Cola customers
• B) few substitutes; luxury; the general public
• C) no substitutes; necessity; the general public
• D) several substitutes; necessity; the general public

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Definitions:

Social Anxiety Disorder

A chronic mental health condition characterized by an intense fear of being negatively judged or rejected in social situations.

Paralyzing Fear

An intense, overwhelming fear that prohibits an individual from taking action or making decisions.

Maladaptive Behaviors

Actions or tendencies that are counterproductive to oneself or others, often diminishing quality of life or interfering with effective functioning.

Anxiety Disorder

A mental health disorder characterized by feelings of worry, anxiety, or fear that are strong enough to interfere with one's daily activities.