The purchase of VCU2 by Tomas Tiergarten, a private resident, causes the nation's:

All of the following contributed to the downfall of the Soviet Union in 1991 except

A) lack of high-quality goods and services. B) public dissatisfaction with low living standards and political repression. C) an inability to produce low-cost consumer goods that households wanted. D) lack of a strong dictator who could coordinate economic activities.

Refer to Table 6-2. Assume that an economist has estimated the price elasticity of demand values in the table above. Use the data in the table to select the correct statement

A) The difference in elasticity values is explained by the fact that the more narrowly we define a market the more elastic the demand will be. B) There are fewer substitutes for "All carbonated soft drinks" than there are for "All soft drinks." C) The elasticity for "All soft drinks" is less than the elasticity for Coca-Cola because Coca-Cola is more of a luxury than a necessity; "All soft drinks" represent goods that are more necessity than luxury. D) The demand for Coca-Cola is inelastic.