Question 1?Assume coke and diet coke are substitutes for consumers

Economics Dec 25, 2022

Question 1?Assume coke and diet coke are substitutes for consumers. What would happen to the equilibrium prices and quantities of both regular and diet coke if the price of sugar increases?

Question 2? If taxes affect both demand and supply, discuss the effect of an increase in taxes on the equilibrium price and quantity.

Use simple words and sentences to answer, these questions are from very early stage.

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