Answer to Question #71091 in Microeconomics for Mubarak

Question #71091
Coca-Cola developed a vending machine that would sense the temperature and then charge higher prices when it was hotter–a response to the increase in demand and the Group Assignment Page 2 of 3 decrease in the elasticity of demand. Consumers found out about the new technology and were outraged, causing Coca-Cola to shelve the idea. 2a) When does a firm have an opportunity to charge different prices to different consumers? 2b) What Determines Price Elasticity of Demand for Coca-Cola? Explain and provide graph illustration.
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2017-11-14T14:38:07-0500

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