If Happy Avocados successfully markets its ready- made guacamole, it will___________ its demand and _________ its price elasticity of demand.

Question

Quizplus · Accepted Answer

Successful marketing of Happy Avocados' ready-made guacamole would likely increase its demand as more consumers become aware of and interested in the product. Additionally, as demand increases, the product may become more of a necessity or have fewer substitutes in the eyes of consumers, which could lower its price elasticity of demand. This means consumers might be less sensitive to price changes, continuing to buy the product even if prices increase slightly.

If Happy Avocados Successfully Markets Its Ready- Made Guacamole, It