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The authors cited statistical evidence that the price elasticity of demand for Royal Crown cola is -2.4, and the price elasticity of demand for Coke

The authors cited statistical evidence that the price elasticity of demand for Royal Crown cola is -2.4, and the price elasticity of demand for Coke is roughly -5.5.Which firm likely has stronger brand loyalty among customers that provides greater potential for monopoly power in the cola market?

Royal Crown

Both firms should have identical monopoly power

Coke

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