What is likely to happen to demand for pineapple juice after the mango juice is placed...
What is likely to happen to demand for pineapple juice after the mango juice is placed on sale assuming that nothing else changes and that both drinks can easily serve as replacements for each other?
Homework Answers
As these juices are substitute for each other a decrease in the price of the mango juice will increase the demand for the mango juice and decrease the demand for the pineapple juice, that will shift the demand for the pine apple juice to the left and the new equilibrium will be at a lower price and lower output.
Conclusion: the demand will decease and the price will fall.
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What is likely to happen to demand for pineapple juice after the
mango juice is placed...
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