Suppose that the company that owns all of the vending machines on your campus has doubled the price of a can of soda,but they still sell almost the same number of sodas per day because:
A)students do not have good nutritional information.
B)soda purchases represent a large fraction of students' budgets.
C)there are few other places to purchase soda on campus.
D)price elasticity of demand for soda is almost unitary.

Question

Quizplus · Accepted Answer

Lack of substitutes will cause demand to be price inelastic.

Suppose That the Company That Owns All of the Vending