Discussion
Need to respond to the following:
• If Coke’s price increases, what will happen to the demand for Pepsi, all other things being equal?
• Explain whether it is a movement along the demand curve or a shift of the demand curve.
• If Coca-Cola develops a new technology that makes Coke tastier, what will happen to the supply curve and demand curve for Coke?
• Is the demand (curve or schedule) for Coke or Pepsi seasonally different?
• What is the relationship between Coke and Pepsi? Do they have the same demand curve or are they different? Explain your reasoning.