Suppose economists develop an economic modelLOADING... to analyze how a tax on soda affects the consumption of soda. The economist is confident that the model is logically consistent with the principles of economics. Unfortunately, when the economist analyzes data on the change in soda consumption after a state enacts a soda tax, she finds that the data are inconsistent with the conclusions of the model. (This outcome is sometimes characterized as a model working well in theory but failing in practice.) What should the economist do next? Part 2 A. She should leave the model as is. A model does not need to explain or predict real world events. B. She should retest the current model, as there may have been an error in the testing methods the first time. C. She should revise the model in light of its failure to explain or predict real world events. D. None of the above