If soft drink brands are close substitutes for each other, this implies that the price elasticity for individual brands would be low.

Name: If soft drink brands are close substitutes for each other, this implies that the price elasticity for individual brands would be low.
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If soft drink brands are close substitutes for each other, it implies that consumers can easily switch from one brand to another in response to price changes, making the price elasticity for individual brands high, not low.

If Soft Drink Brands Are Close Substitutes for Each Other