Demand Curves for Cola Challenge. Consider the results of the cola challenge.
a. Draw a pair of demand curves, one for Pepsi and one for Coke, consistent with the results of the nonblind tastings. (Related to Application 4 on page 472.)
b. At a given price, for example $1, which product has a larger quantity demanded?
c. For a given quantity, for example 50 units per minute, which product has a higher willingness to pay?