If a Bottled Soft Drink and Bottled Juice Are Substitutes

question 126

Multiple Choice

If a bottled soft drink and bottled juice are substitutes, when the price of the bottled soft drink rises

• A)demand for bottled juice rises.
• B)demand for bottled juice falls.
• C)quantity of bottled juice demanded falls.
• D)quantity of bottled juice demanded rises.

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Definitions:

Aggressive Marketing

A proactive, forceful strategy aimed at increasing sales and market share, often involving intense promotional activities.

Lower Prices

Lower prices refer to a reduction in the cost at which goods and services are sold, often aimed at increasing consumer demand or being competitive in the market.

Complementary Product

A product that adds value to another primary product when used together, encouraging consumers to purchase both.

Operations Manager

A professional responsible for overseeing, designing, and controlling the process of production and redesigning business operations.