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The price of a new car is $20 000 while the price of a five-year old car of the same brand is $8 000.The next year the price of the new car increases to $22 000 and the price of a five-year old car of the same brand is $8 800.The relative price of the used car
Coca-Cola
A multinational beverage corporation known for its flagship product, a carbonated soft drink.
Pepsi
A carbonated soft drink produced and manufactured by PepsiCo, serving as a major competitor in the global beverage market.
Market Demand Curve
A graphical representation that shows the relationship between the price of a good and the total quantity demanded by all consumers in the market.
Horizontally Summing
The process of adding demand or supply curves across different markets or individuals to get a cumulative total.
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