Suppose That 300 Bottles of Soda Are Demanded at a Particular

question 151

Multiple Choice

Suppose that 300 bottles of soda are demanded at a particular price.If the price of a bottle of soda rises from that price by 6 percent,the number of bottles of soda demanded falls to 275.Using the midpoint approach to calculate the price elasticity of demand,it follows that the

• A)demand for bottles of soda in this price range is perfectly elastic.
• B)price increase will increase the total revenue of soda sellers.
• C)price elasticity of demand for bottles of soda in this price range is about 0.69.
• D)price elasticity of demand for bottles of soda in this price range is about 1.45.

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Definitions:

Costs

In biological contexts, refers to the negative consequences or trade-offs associated with certain traits, behaviors, or actions that can affect an organism's survival or reproductive success.

Policing Behavior

Actions taken by individuals within a group to enforce social norms or rules, often to maintain group harmony and cooperation.

Reproductive Skew

A concept in biology that describes the unequal distribution of reproductive opportunities among individuals within a group or population.

Direct Fitness

The genetic contribution an individual makes to the next generation through its own offspring.