If the cross-price elasticity of demand for Coke and Pepsi is 0.6 and presently 1000 units of Coke are consumed, how many. units of Coke will be consumed if the price of Pepsi increases by 10% ?

Entrepreneurial Finance
6th Edition
ISBN:9781337635653
Author:Leach
Publisher:Leach
Chapter4: Preparing And Using Financial Statements
Section: Chapter Questions
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If the cross-price elasticity of demand for
Coke and Pepsi is 0.6 and presently 1000
units of Coke are consumed, how many.
units of Coke will be consumed if the price
of Pepsi increases by 10% ?
Transcribed Image Text:If the cross-price elasticity of demand for Coke and Pepsi is 0.6 and presently 1000 units of Coke are consumed, how many. units of Coke will be consumed if the price of Pepsi increases by 10% ?
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