Multiple Choice
Pepsi One is a close substitute for Diet Coke. When Pepsi introduced Pepsi One, the price elasticity of demand for Diet Coke ______ and Coke's ability to raise revenues through price increases ______.
A) increased; was reduced
B) increased; increased
C) decreased; was reduced
D) had no effect; was reduced
Correct Answer:
Verified
Correct Answer:
Verified
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