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Consider the following weekly demand function for Coke: Sales of Coke = 48.6 - 0.3 Price Coke +0.34 Ad Expenditures+0.23 Price Pepsi where Coke's advertisement
Consider the following weekly demand function for Coke: Sales of Coke = 48.6 - 0.3 Price Coke +0.34 Ad Expenditures+0.23 Price Pepsi where Coke's advertisement expenditure is measured in million euros, the price of Pepsi and cokes Coke is in euros and quantity sold of Coke is measured in cases. Moreover, consider that the average weekly sales of coke is 49.3 cases, the average price of coke is 22.96 while for Pepsi is 23.075 and also that the average cokes advertisement expenditure is 6 522 205.59. Group of answer choices The own-price elasticity of demand for Coke- Cola is -0.1. The weekly sales estimate for coke when the price of a case of coke is 25.37, the price of a case of Pepsi is 26.99 and 568 411.68 are spent in coke advertising is 47.3 cases. The cross-price elasticity between Coke and Pepsi is 0.1. All the above
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