BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Mirinda
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Pepsi
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RC
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7 Up
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Detailed explanation-1: -Pepsi. Pepsi is the brand of drink that may be a very good substitute for Coca-Cola, as both Pepsi and Coca-Cola came from the same company or brand.
Detailed explanation-2: -Pepsi and Coke can be considered as substitutes. Pepsi and Coke are soft drinks that can be exchanged depending on preferences and price attainment levels. Pepsi and Coke are considered substitutes because they are used to satisfy the same need, and they are both sodas.
Detailed explanation-3: -Healthy soda alternatives to regular and diet soda include sparkling water, FUL® sparkling spirulina drinks, coffee, tea, kombucha, coconut water, and homemade lemon soda.
Detailed explanation-4: -Solution: Coke and Pepsi are perfect substitutes, so a possible utility function is u (x, y) = x + y.