Why might the fact that the demand for soft drinks is elastic help to explain why Philadelphias

Question:

Why might the fact that the demand for soft drinks is elastic help to explain why Philadelphia’s revenues from the sugary drinks tax have turned out to be about 15 percent lower than predicted by Mayor Kenney and the city council?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Economics Today The Micro View

ISBN: 9780135888124

20th Edition

Authors: Roger LeRoy Miller

See More Books

Question Posted: Nov 11, 2023 10:44 PM

See More Questions

Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
Why might the fact that private economic forecasters complete to sell their services help to constrain behavioral tendencies for too much optimism in projections of real GDP growth? Explain your...
There has always been demand for soft drinks since early ages when the substitutes for them were only water. But gradually people started demanding something more, which means quenching the thirst...
When 12.0 V is applied to a DC motor it rotates at 24 rad/s. The current in the motor is 0.50 A and the "back" emf induced in the motor is 6.0 V. The resistance of the motor will be?
The debits and credits from two transactions are presented in the following suppliers (creditors) account: Describe each transaction and the source of eachposting. NAME Daisy Inc ADDRESS 5000 Grand...
The Fastest (and Most Expensive) Car! The table shows test data for the Bugatti Veyron, the fastest car made. The car is moving in a straight line (the x-axis). (a) Make a v.-t graph of this car's...
Refer to Samsungs financial statements in Appendix A. Compute its debt ratio as of December 31, 2015, and December 31, 2014. Data From Samsung Financial Statement Appendix A Samsung Electronics Co.,...
SantasAttic.com is an online retailer/manufacturer of childrens toys. Its main competitors are larger electronic commerce toy companies including Amazon.com; Yahoo Shopping, which includes...
Suppose one side of your home was damaged in a storm. To fix it you need to put new siding on the damaged exterior wall. The damaged wall measures 30.2 feet in length and 22.7 feet in width. The...
The following Trial Balance exists at December 31, 2010 for Hockey Consultants Inc. Required: Prepare an income statement, statement of retained earnings, and a balance sheet for Hockey Consultants...
Assume that you are living in Philadelphia and like sugary drinks. You continue to buy almost the same quantity of such drinks. Does that mean that the law of demand is wrong?
Why do you suppose that developers have designed apps that allow people to give themselves incentives to exercise by providing payments for supplying gym workouts but that impose penalties for...
Compute the numbers. 1 100
lamb company deposited $15000 annually for 6 years in an account paying 5% interest compounded anually .what is the balance of the account at the end of the sixth year?
Manico Co produces three products, X,Y, and Z, with the following characteristics: Selling price/unit: X $20, Y $16, Z $15; Variable cost/ unut: X$12, Y, $12, Z $6; Contribution margin/unit: X $8,...
Sail Away, a cruise industry magazine, collected $480,000 in subscription revenue in May. Each subscriber will receive an issue of the magazine for each of the next 12 months, beginning with the June...
Identify three factors that might cause the auditors to assess the inherent risk of an engagement at a higher level.
A storage tank acquired at the beginning of the fiscal year at a cost of $72,000 has an estimated residual value of $4,400 and an estimated useful life of 4 years. a. Determine the amount of annual...
A company reports the following: Net income ...........$410,000 Preferred dividends....... $60,000 Shares of common stock outstanding.. 50,000 Market price per share of common stock . $84 a....
The text defined intrinsic value as the value of an asset given a hypothetically complete understanding of the assets investment characteristics. Discuss why hypothetically is included in the...
The Legal Environment Dimension Under what circumstances might an employees supervisor, or even a corporate officer or director, be held liable for the employees crime?
What is the relationship between NAC and its shareholders, and how is that relationship different from the usual relationship between a corporation and its shareholders?
There are about two hundred sovereign nations in the world today, but only thirty have signed the Cyber-Crime Convention. Why do you think so many nations governments have been reluctant to be bound...
Rush Corporation plans to acquire production equipment for $612,500 that will be depreciated for tax purposes as follows: year 1, $122,500; year 2, $212,500; and in each of years 3 through 5, $92,500...
Hickory Company manufactures two products14,000 units of Product Y and 6,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing...
Hayes Jewelers is a jewelry wholesaler. Lowell was employed by Hayes as a traveling sales representative. He drove his own vehicle to meet clients and attend trade shows. His practice was to keep the...

Why might the fact that the demand for soft drinks is elastic help to explain why Philadelphias

Question:

Step by Step Answer:

When the price elasticity of demand ...View the full answer

Economics Today The Micro View

Students also viewed these Business questions