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1985/the cocacola comp was faced with soaring prices for sugar cane, 1-cent increase in the price of sugar cane raised its total cost by$20million.Rather than raise the price, comp looke for a cheaper input and replced cane suger with corn sugar:
A.why couldn't cocacola simply raise the price of coke? (use eco terminology)
B. is sugat a fixed or variable input?
C.did the switch in the input lower:total cost?variable cost?fixed cost?average cost?average fixed cost?average variable cost? explain why?
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