Solved: What would be the consumer buying response to coca-cola, Macroeconomics

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What would be the consumer buying response to coca-cola

Problem 1: What would be the consumer buying response to Coca-Cola if the price of Pepsi doubled?

Problem 2: If the prices of Coca-Cola and Pepsi remained constant, what would be the consumer's typical buying response to these products if their income was reduced by 30%?

Problem 3: Suppose all carbonated beverages tripled in price. How would the concepts of utility, income, and substitution predict consumer behavior based on the rise in the cost of carbonated beverages?

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Macroeconomics: What would be the consumer buying response to coca-cola

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