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Why demand for soft drink as a whole inelastic but demand for Coca-Cola is elastic?
Wiki User
∙ 15y ago
Because there are many alternative brands for Coca Cola that have more or less the same taste. When the price of coca cola rises, demand decreases because consumers will find alternative brands that taste the same but at a lower price, therefore demand is elastic. Demand for soft drink as a whole is inelastic because whether or not the price increases/decreases, demand would not decrease/increase by a whole lot, since it's the consumers' preferred choice of drinks (just like milk is inelastic). Just because the price increases, doesn't mean that consumers will start to drink water all the time, they'll just drink less amounts of soft drink than usual (and vice versa).
Wiki User
∙ 15y ago
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Why demand for soft drink as a whole inelastic but demand for Coca Cola is elastic?
the demand for cold drink as whole is inelastic bcoz the price wont have much effect on its demandbt price for coca cola is elastic because if pric of coca cola will increase then its substitute pepsi is available
Price inelasticity of demand?
The elasticity of demand is related to the slope of the demand curve, but is not the same. The steeper the demand curve is the more the consumers "must" have the good. Lifesaving medicine, for example, has a very steep demand curve because producers can raise the price without appreciably decreasing the quantity demanded. Goods like this are inelastic. Goods with many alternates, like potato chips, are elastic. If the price is raised, consumers will purchase alternates instead, like pretzels.
What types of goods generally have inelastic demand?
Goods that are generally inelastic are goods that everyone would still buy even if there was a large price increase. Many people drink milk. If the price of milk doubled, consumers would still buy the milk because there are very few substitutes to milk. This is an inelastic product.
What is a perfect inelastic demand?
When demand for a product or service does not change at all in response to changes in its price. Of course in the real world that rarely if ever happens; it's an extreme case used to illustrate one endpoint of the spectrum of supply-and-demand responses by consumers.
What are the importance of elasticity?
In economic terms, an elastic demand is one that will vary with price, so the consumer might enjoy consuming this particular product but only if the price seems reasonable. There could be alternative products that are quite acceptable. If you like grapefruit juice but it becomes very expensive, you may wish to buy orange juice instead. If grapefruit and orange juice are both very expensive, you might wish to drink cranberry juice instead. So elasticity of demand creates a limit on what can be charged for a product. In comparison, some products have a relatively inelastic demand. People will continue to buy gasoline for their cars, almost regardless of what it costs. The alternative is to buy an electric car, which is enormously expensive. So gasoline prices can get very high.
Why demand for soft drink as a whole inelastic but demand for Coca Cola is elastic?
the demand for cold drink as whole is inelastic bcoz the price wont have much effect on its demandbt price for coca cola is elastic because if pric of coca cola will increase then its substitute pepsi is available
Which drink was the acidic?
cocacola
What is perfect inelastic demand?
In economic theory, a perfect inelastic demand is a demand for some product that cannot be reduced, either by higher prices or shortages, because it is something that people absolutely have to have at any cost. There would be very few examples of a perfect inelastic demand. Some people need a certain kind of medicine to treat their disease, such as a severe diabetic who needs insulin; this is a perfectly inelastic demand. A heroin addict must have his or her heroin, regardless of cost, so that too is a perfectly inelastic demand. But most products have some elasticity of demand. If you cannot afford fruit juice, you can probably drink water instead.
Price inelasticity of demand?
The elasticity of demand is related to the slope of the demand curve, but is not the same. The steeper the demand curve is the more the consumers "must" have the good. Lifesaving medicine, for example, has a very steep demand curve because producers can raise the price without appreciably decreasing the quantity demanded. Goods like this are inelastic. Goods with many alternates, like potato chips, are elastic. If the price is raised, consumers will purchase alternates instead, like pretzels.
What types of goods generally have inelastic demand?
Goods that are generally inelastic are goods that everyone would still buy even if there was a large price increase. Many people drink milk. If the price of milk doubled, consumers would still buy the milk because there are very few substitutes to milk. This is an inelastic product.
What is a perfect inelastic demand?
When demand for a product or service does not change at all in response to changes in its price. Of course in the real world that rarely if ever happens; it's an extreme case used to illustrate one endpoint of the spectrum of supply-and-demand responses by consumers.
Is there a drink called Mocka Cola?
no moka cola is a made up drink used by dan shneider to substitute cocacola
Selena quintanilla favorite drink?
Yes at Chris Perez grand parents
Did joe drink coke or sprite and then burp in santas clause movie?
Cocacola i believe
Which drink did the cocacola company sell as super chilled?
Sprite Super Chilled was sold in 2008. The bottle produced ice when it was opened.
How much fat does cocacola has?
There is 0.1 grams of fat in 21 ounces of Coca-Cola. The same amount of the drink also has 182 calories.
Do they drink cocacola in Mexico?
Yes; behind the United States, Mexico is the second most important market of Coca Cola beverages in the world.
