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​"Because Coke and Pepsi are​ substitutes, a decrease in the price of Pepsi will cause the demand for Coke to decrease. This initial shift in demand for Coke results in a lower price for​ Coke; this lower price will cause the demand curve for Coke to shift to the​ left." Which of the following correctly comments on this​ statement?

User Uladz Kha
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1 Answer

5 votes

Answer:

The statement is false because a change in the price of Coke would not change the demand for Coke.

Step-by-step explanation:

A demand schedule is a table that shows the quantity demanded at different prices in the market. A demand curve shows the relationship between quantity demanded and price in a given market on a graph. The law of demand states that a higher price typically leads to a lower quantity demanded

User Camden
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