When Coca Cola introduced a new, low-calorie version of Coca Cola called C2, despite a major marketing effort, sales of C2 were weak and many doubted that the product would last. Coke's experience with C2 illustrates the economic concept of:

Question

Quizplus · Accepted Answer

Consumer sovereignty refers to the power of consumers to determine what goods and services are produced in the market. The weak sales of C2 despite major marketing efforts indicate that consumers did not favor the product, demonstrating their influence over market outcomes.

When Coca Cola Introduced a New, Low-Calorie Version of Coca