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You're Coca-Cola's manager and are discussing the effect of Pepsi on the demand for Coca-Cola with...

You're Coca-Cola's manager and are discussing the effect of Pepsi on the demand for Coca-Cola with the marketing department.

Write out a demand equation for Coca-Cola that shows the effect of Pepsi on the demand for Coca-Cola.

Explain the meaning of the coefficient on the price Pepsi and on advertising.

Explain why you would spend money on advertising and how this would affect the demand for Coca-Cola.

Draw a graph that shows the effect of advertising on the demand for Coca-Cola.

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