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:

Sarcomeres

The basic structural and functional unit of a muscle fiber, responsible for muscle contraction.

T-tubules

Extensions of the cell membrane that penetrate into the centre of skeletal and cardiac muscle cells, facilitating the transmission of electrical impulses.

Microtubules

Cylindrical structures found in nearly all eukaryotic cells, involved in cell shape, division, and movement as well as intracellular transport.

Acetylcholine

A neurotransmitter in the central and peripheral nervous systems that plays a key role in muscle contraction and many other bodily functions.