Assuming That Pepsi-Cola and Coca-Cola Are Substitutes, a Rise in the Price

question 189

Multiple Choice

Assuming that Pepsi-Cola and Coca-Cola are substitutes, a rise in the price of Pepsi-Cola, other things being equal, results in a(n) :

• A) upward movement along the demand curve for Coca-Cola.
• B) downward movement along the demand curve for Coca-Cola.
• C) leftward shift in the demand curve for Coca-Cola.
• D) rightward shift in the demand curve for Coca-Cola.

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Definitions:

T Accounts

A representation in accounting used to track the increases and decreases in individual financial statement items.

Direct Labour Hours

The total hours worked by employees that can be directly associated with the production of goods or services.