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3. According to a company news release, during the third quarter of 2014, the Coca-Cola
Company sold 2 percent more of soda in North America while earning more revenue. ( 2 points) A)
Did Coca- Cola Company increase or decrease its soda prices during this period? Briefly explain.
B) Based on this information, is the demand for Coca-Cola Company price elastic or price
inelastic? Briefly explain.

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