Question

Ceteris paribus​, if the price of Pepsi​ increases, the equilibrium price of​ Coca-Cola will​ ________ and the equilibrium quantity of​ Coca-Cola will​ ________.

Answer 1

Rise

Rise

Step-by-step explanation:

Pepsi and Coca cola are considered substitutes. If the price of Pepsi increases, consumers would begin to consume more coca cola and the demand for coca cola would increase. This would lead to an excess of demand for coca cola over supply and prices would rise.

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