Following the September 11, 2001, terrorist attacks, the managers of many hotels expected a prolonged period of reduced travel and responded by laying off workers and postponing or canceling new construction

Isadore Sharp, the chairman and CEO of Four Seasons Hotels, decided to
A) curtail expansion plans, and by significantly cutting back on expansion was able to maintain the company's market share.
B) continue expanding and the company ended up losing significant market share.
C) curtail expansion plans and the company ended up losing significant market share.
D) continue expanding and was able to maintain or enhance the company's market share.


D

Economics

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Suppose the company that owns the vending machines on your campus has doubled the price of a can of soda. They then notice that they are selling approximately 15% fewer sodas. The price elasticity of demand for sodas from the campus vending machines, therefore, is:

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