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The pie-chart given above shows the annual global market share of Pepsi and Coke for the last five years on average. Under what market structure

The pie-chart given above shows the annual global market share of Pepsi and Coke for the last five years on average.

Under what market structure do Pepsi and Coke operate? How can you explain the pricing behavior of Pepsi and Coke? Given the obvious market share of both Pepsi and Coke, on what grounds would you justify the multi-billion-dollar annual advertising spending by those two companies?

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