The quantity demanded of Pepsi has decreased The best explanation for this is that ........

Economics- Phase (I & II) Demand and Supply , Market Structures

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The quantity demanded of Pepsi has decreased. The best explanation for this is that:

The price of Pepsi increased.

Pepsi consumers had an increase in income.

Pepsi's advertising is not as effective as in the past.

The price of Coca Cola has increased.

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Explanation:

The inverse relationship between price of a commodity and its quantity demanded is explained by law of demand. The Law of Demand states that while other things remaining constant, the quantity of a good demanded increases with a fall in the price and diminishes when the price increases.

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