The quantity demanded of Pepsi has decreased. Which among the following is / are explanation to this?
1. Pepsi consumers had an increase in income.
2. The price of Pepsi increased.
3. The price of Coca Cola has decreased
Select the correct option from the codes given below:

Answer: [C] Only 2 & 3

This question is a part of GKToday's Integrated IAS General Studies Module