Suppose the Daily Demand for Coke and Pepsi in a Small

question 33

Multiple Choice

Suppose the daily demand for Coke and Pepsi in a small city are given by Q_C = 90 - 100P_C + 400(P_P - P_C) and Q_P = 90 - 100P_P + 400(P_C - P_P) ,where Q_C and Q_P are the number of cans Coke and Pepsi sell,respectively,in thousands per day.P_C and P_P are the prices of a can of Coke and Pepsi,respectively,measured in dollars.The marginal cost is $0.45 per can for both Coke and Pepsi.If P_C = $0.60,what is Pepsi's demand function?

• A) Q_P = 90 - 500P_P
• B) Q_P = 330 - 400P_P
• C) Q_P = 500 - 330P_P
• D) Q_P = 330 - 500P_P

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Definitions:

High-Income Economies

Countries with a gross national income per capita above a certain threshold, indicating a high level of economic prosperity.

Low-Income Economies

Economies characterized by their citizens earning significantly lower incomes on average, often measured by gross national income thresholds set by international institutions.

Economic Growth

is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time.

19th Century

the period from January 1, 1801, to December 31, 1900, marked by significant industrial, social, and political changes worldwide.