Explain and illustrate the impact on market demand for sugar in the following three scenarios: 1. The price of artificial sweetener increases Effect: Artificial sweeteners are a substitute for sugar.
Week 2 – Market Demand Scenarios Task:Explain and illustrate the impact on market demand for sugar in the following three scenarios: 1. The price of artificial sweetener increases Effect: Artificial sweeteners are a substitute for sugar. When the price of artificial sweeteners goes up, consumers will switch to sugar. Result: The demand for sugar increases, shown by a […]