If Diet Pepsi and Diet Coke are substitutes than an increase in the price of Diet Pepsi will cause a decrease in demand for Diet Coke.

Name: If Diet Pepsi and Diet Coke are substitutes than an increase in the price of Diet Pepsi will cause a decrease in demand for Diet Coke.
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Question

Quizplus · Accepted Answer

An increase in the price of Diet Pepsi would likely cause an increase in demand for Diet Coke, as consumers switch to the cheaper substitute.

If Diet Pepsi and Diet Coke Are Substitutes Than an Increase