I love Coca-Cola. How about you?
Oh yes I agree. The lovely carbonated soft drink that is coke is my official favourite!
I prefer it over Pepsi.
Coca-Cola
Coca-Cola, or Coke, is a carbonated soft drink manufactured by The Coca-Cola Company. Originally intended as a patent medicine, it was invented in the late 19th century by John Stith Pemberton and was bought out by businessman Asa Griggs Candler, whose marketing tactics led Coca-Cola to its dominance of the world soft-drink market throughout the 20th century. The drink's name refers to two of its original ingredients: coca leaves, and kola nuts (a source of caffeine).
of such a product is the soft drink. As the price of Coca-Cola rises, consumers could be expected to substitute Pepsi. However, many consumers prefer one brand of soft drink over the other. Consumers who prefer Coke to Pepsi, for example, will not trade between them in a one-to-one fashion. Rather, a consumer would be willing to give relatively large amounts of Pepsi in exchange for relatively small amounts of Coke.
People exhibit a strong preference for within-category substitutes to cross