An economist has conducted extensive research and has found that jones cola is a substitute for tucker cola. ceteris paribus, the price of jones cola increases. the impact on the demand curve for tucker cola is a(n):

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09-09-2018
Business

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An economist has conducted extensive research and has found that jones cola is a substitute for tucker cola. ceteris paribus, the price of jones cola increases. the impact on the demand curve for tucker cola is a(n):

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pristina pristina · Answer 1 · 2018-09-18T16:58:48+02:00

Answer: Increase in demand

Explanation: Change in demand occurs when factors affecting demand other the its price changes. While, a change in quantity demanded occurs when the price of the good changes other things constant. Since, jones cola and tucker cola are substitutes to each other. A rise in the price of jones cola will shift demand towards tucker cola. This, will lead to a rightward shift in the demand curve for tucker cola and an increase in demand for tucker cola.