Multiple Choice
If Coke and Pepsi are close substitutes, then if:
A) Coke raises its price, so will Pepsi.
B) Coke raises its price, it will not lose customers to Pepsi.
C) Pepsi lowers its price, it will not hurt Coke.
D) Coke raises its price, some customers will switch to Pepsi.
Correct Answer:
Verified
Correct Answer:
Verified
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