This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Suppose the major soft drink companies develop vending machines for canned and bottled drinks that ... (Read 67 times)

sam.t96

  • Hero Member
  • *****
  • Posts: 570
on: Jul 1, 2018
Suppose the major soft drink companies develop vending machines for canned and bottled drinks that can determine your maximum willingness-to-pay for a drink, and the machine charges you that price when you purchase a drink.
 
  If this were possible, the consumer surplus in the vended soft drink market would be: A) positive because consumer surplus equals consumer expenditures in this case.
  B) positive because the market demand curve is perfectly inelastic in this case.
  C) negative because people are not actually willing to pay their maximum value for the product.
  D) zero because all surplus value is captured by the seller.

Question 2

A quintile is 20 (one-fifth) of a population group.
 
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

qytan

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

T


sam.t96

  • Member
  • Posts: 570
Reply 2 on: Jul 1, 2018
Gracias!

raenoj

  • Member
  • Posts: 340
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

Did you know?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

A plot of trophic diversity across the major groups of organisms shows highest trophic diversity amo A plot of trophic diversity across the major groups of organisms shows highest trophic diversity amo
Major Arteries Major Arteries
Organ systems of the body with major functions. Organ systems of the body with major functions.
Major Motor Pathways Major Motor Pathways
Major groups of forest biomes Major groups of forest biomes
Timeline of Major Events in Plants Timeline of Major Events in Plants
Video: Introduction to Autism

For a complete list of videos, visit our video library