Consumption of soft drinks (such as Coca-Cola and Pepsi-Cola) in the US has fallen for 18 years. In 2004, the average American drank about 50 gallons of soft drinks in various forms. Today, the average American drinks about 35 gallons of soft drinks annually. Let’s consider possible reasons for the decrease in soft drink consumption. a. One possibility is that the decreased consumption represents a decrease in the quantity demanded of soft drinks. Explain what could have caused a decrease in the quantity demanded of soft drinks. This is not a research question – your answer does not have to be factually correct to earn full credit. b. A second possibility is that the decreased consumption represents a decrease in the demand for soft drinks. Explain what could have caused a decrease in the demand for soft drinks. This is not a research question – your answer does not have to be factually correct to earn full cred it.
Consumption of soft drinks (such as Coca-Cola and Pepsi-Cola) in the US has fallen for 18 years. In 2004, the average American drank about 50 gallons of soft drinks in various forms. Today, the average American drinks about 35 gallons of soft drinks annually. Let’s consider possible reasons for the decrease in soft drink consumption.
a. One possibility is that the decreased consumption represents a decrease in the quantity demanded of soft drinks. Explain what could have caused a decrease in the quantity demanded of soft drinks. This is not a research question – your answer does not have to be factually correct to earn full credit.
b. A second possibility is that the decreased consumption represents a decrease in the
it.
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