Recall the Application about the new vending machine developed by Coca -Cola that charges a higher price for soft drinks when the weather is hot to answer the following question(s).
-Recall the Application. When the Coca-Cola Company developed new vending machines that could sense heat and charge a higher price, it was:
A)identifying technological consumers who are thought to have a more inelastic demand.
B)identifying hot-day consumers who are thought to have a more inelastic demand.
C)identifying technological consumers who are thought to have a more elastic demand.
D)identifying hot-day consumers who are thought to have a more elastic demand.

Question

Quizplus · Accepted Answer

The Coca-Cola Company was targeting consumers on hot days, assuming their demand for cold drinks would be more inelastic, meaning they would be less sensitive to price changes due to the increased need for refreshment.

Recall the Application About the New Vending Machine Developed by Coca