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The markets for soft drinks exhibit the characteristics of monopolistic competition. Explain the competitive features of two products, such as Pepsi and Coke, in some
The markets for soft drinks exhibit the characteristics of monopolistic competition. Explain the competitive features of two products, such as Pepsi and Coke, in some detail. In your answer, refer to the following: relationship between the two goods; monopoly or market power of these two giant soft-drink makers relative another cola maker, say RC, whose cola tastes differently; customer behavior; elasticities of demand; prices of these two soft drinks
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