Refer to the information provided in Figure 3.1 below to answer the question(s) that follow. Figure 3.1
-Refer to Figure 3.1. Which of the following would be most likely to cause the demand for Dr. Pepper to shift from D₀ to D₁?

Question

Refer to the information provided in Figure 3.1 below to answer the question(s) that follow.

Figure 3.1
-Refer to Figure 3.1. Which of the following would be most likely to cause the demand for Dr. Pepper to shift from D₀ to D₁?

Quizplus · Accepted Answer

A decrease in the price of 7-UP, assuming 7-UP is a substitute for Dr. Pepper, would make 7-UP more attractive to consumers, causing them to demand less Dr. Pepper.

Refer to the Information Provided in Figure 3