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Effects of different demand shifters

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Analyze the effects of different demand shifters on the demand curve for smoothies. PLEASE EXPLAIN WHY.

  1. Milkshakes and smoothies are substitute goods. When the price of a milkshake falls, does the demand curve for smoothies shift? If so, does it shift to the right or to the left?
  2. The price of smoothies rises due to an increase in the price of berries used to make smoothies. When the price of a smoothie rises, does the demand curve for smoothies shift? If so, does it shift to the right or to the left?

Reference no: EM132813365

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