What Would You Expect to Happen to the Price and Quantity

question 29

Multiple Choice

What would you expect to happen to the price and quantity of Pepsi if the price of Coke increases and Pepsi develops a new technology that makes its production process more efficient?

• A) The equilibrium price will go up and the equilibrium quantity will go up.
• B) The equilibrium price will be indeterminate and the equilibrium quantity will go up.
• C) The equilibrium price will go down and the equilibrium quantity will be indeterminate.
• D) The equilibrium price will be indeterminate and the equilibrium quantity will go down.
• E) The equilibrium price will go up and the equilibrium quantity will be indeterminate.

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Definitions:

Churches

Places of worship and community gatherings associated with the Christian faith, often involved in religious, educational, and charitable activities.

Certificate Of Incorporation

A document certifying that a corporation is incorporated in the state and is authorized to conduct business.

Secretary Of State

is a high-ranking official in the government, responsible for foreign affairs in some countries, or overseeing various governmental and administrative duties in others.

De Facto Corporation

Latin for “corporation in fact”; a corporation that has not substantially met the requirements of the state incorporation statutes.