If Pepsi increases its prices which of the following would NOT happen?
A. The demand for Pepsi would drop.
B. The quantity demanded of Pepsi would drop.
C. The demand for Coke would increase.
D. The equilibrium price of Coke would rise.
A. The demand for Pepsi would drop.
You might also like to view...
According to Marx, which of the following factors of production did not contribute anything of value to production?
A) capital B) entrepreneurship C) natural resources D) labor
Which of the following does NOT explain the extent of trade between Ireland and the U.S.?
A) historical ties B) cultural Linguistic ties C) Gravity Model D) multinational corporations E) large numbers of Irish-Americans
A legal maximum on the price at which a good can be sold is called a price
a. floor. b. subsidy. c. support. d. ceiling.
Which of the following is TRUE for a monopolistically competitive firm?
A) MR = P B) MR > P C) MR < P D) MR = AFC