Reference no: EM132835205 , Length: Word count:- 300
A change in quantity demanded (or a movement along the demand curve) is caused by a change in its own price while a change in demand (or a shift of the demand curve) is caused by a change in nonprice determinants that include changes in consumers' income, taste or preference, price of other goods, expected future price, etcetera.
Respond to the following:
Question 1: If Coke's price increases, what will happen to the demand or quantity demanded for Pepsi, all other things being equal?
Question 2: Explain whether it is a movement along the demand curve or a shift of the demand curve.
Question 3: If Coca-Cola develops a new technology that makes Coke tastier, what will happen to the supply curve and demand curve for Coke?
Question 4: Is the demand (curve or schedule) for Coke or Pepsi seasonally different?
Question 5: What is the relationship between Coke and Pepsi? Do they have the same demand curve or are they different? Explain your reasoning.
- Your initial post should be a minimum of 300 words.
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