Which of the following would be most likely to cause the demand for Pepsi to shift to the left? Select one: O a. an increase in the price of Pepsi O b. a decrease in the price of 7-UP, assuming 7-UP is a substitute for Pepsi O c. an increase in the price of sugar used to make Pepsi O d. an increase in income, assuming that Pepsi is a normal goodWhen the price of tea increases 7%, the quantity demanded decreases 12%. The price elasticity of demand for tea is and total revenue from tea sales will Select one: O a. elastic; increase O b. inelastic; increase O c. inelastic; decrease O d. elastic; decrease