Assume that coke and pepsi are substitute goods. Coke is able to purchase sugar at a lower price due to contract renegotiaons with a supplier. How will that impact the equilibrium price and quantity for Pepsi?

Group of answer choices:

Pepsi's equilibrium price will go down and equilibrium quantity will go down.

Pepsi's equilibrium price will go down and equilibrium quantity will go up.

Pepsi's equilibrium price will go up and equilibrium quantity will go down.

Pepsi's equilibrium price will go up and equilibrium quantity will go up.

Answer rating: 100% (QA)

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