Answer the following:
a)Define the market for Coca-Cola,that is,what would you include in the market for Coca-Cola? Considering the market for Coca-Cola,how is the market power of Coca-Cola affected by what is included as a part of the market?
(b)Explain how cross-price elasticity of demand is relevant to a firm being investigated for antitrust violation.If you were the chief economist for this firm,would you want to show a high cross-price elasticity or a low cross price elasticity of demand between your product and a rival product? Why?

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The Answer of Answer the following:
a)Define the market for Coca-Cola,that is,what would you include in the market for Coca-Cola? Considering the market for Coca-Cola,how is the market power of Coca-Cola affected by what is included as a part of the market?
(b)Explain how cross-price elasticity of demand is relevant to a firm being investigated for antitrust violation.If you were the chief economist for this firm,would you want to show a high cross-price elasticity or a low cross price elasticity of demand between your product and a rival product? Why?

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