To analyze the situation regarding the change in banana prices and its impact on demand, we can use the basic principles of economics regarding supply and demand.

1. **Price Increase**: The price of bananas increased from $0.39 per pound to $0.59 per pound. This significant increase in price typically leads consumers to reconsider their purchasing decisions.

2. **Law of Demand**: According to the law of demand, there is an inverse relationship between the price of a good and the quantity demanded. When the price of a good rises, the quantity demanded usually falls, assuming all other factors remain constant.

3. **Consumer Behavior**: As the price of bananas increases, consumers may start to look for substitute goods (like apples or oranges) that provide similar benefits at a lower cost. This shift can further contribute to a decline in the quantity demanded for bananas.

4. **Conclusion**: Given these factors, we can conclude that the quantity of bananas demanded is likely to decrease due to the increase in price from $0.39 to $0.59 per pound.

In summary, the demand for bananas will probably decrease as a result of the price increase.

Question

To analyze the situation regarding the change in banana prices and its impact on demand, we can use the basic principles of economics regarding supply and demand.

1. **Price Increase**: The price of bananas increased from $0.39 per pound to $0.59 per pound. This significant increase in price typically leads consumers to reconsider their purchasing decisions.

2. **Law of Demand**: According to the law of demand, there is an inverse relationship between the price of a good and the quantity demanded. When the price of a good rises, the quantity demanded usually falls, assuming all other factors remain constant.

3. **Consumer Behavior**: As the price of bananas increases, consumers may start to look for substitute goods (like apples or oranges) that provide similar benefits at a lower cost. This shift can further contribute to a decline in the quantity demanded for bananas.

4. **Conclusion**: Given these factors, we can conclude that the quantity of bananas demanded is likely to decrease due to the increase in price from $0.39 to $0.59 per pound.

In summary, the demand for bananas will probably decrease as a result of the price increase.

Knowee AI · Accepted Answer

To analyze the situation regarding the change in banana prices and its impact on demand, we can use the basic principles of economics regarding supply and demand.

1. **Price Increase**: The price of bananas increased from $0.39 per pound to $0.59 per pound. This significant increase in price typically leads consumers to reconsider their purchasing decisions.

2. **Law of Demand**: According to the law of demand, there is an inverse relationship between the price of a good and the quantity demanded. When the price of a good rises, the quantity demanded usually falls, assuming all other factors remain constant.

3. **Consumer Behavior**: As the price of bananas increases, consumers may start to look for substitute goods (like apples or oranges) that provide similar benefits at a lower cost. This shift can further contribute to a decline in the quantity demanded for bananas.

4. **Conclusion**: Given these factors, we can conclude that the quantity of bananas demanded is likely to decrease due to the increase in price from $0.39 to $0.59 per pound.

In summary, the demand for bananas will probably decrease as a result of the price increase.

Last week, bananas cost $0.39 per pound. This week, they cost $0.59 per pound. What will probably happen to the quantity of bananas demanded?

Question

Last week, bananas cost $0.39 per pound. This week, they cost$ 0.59 per pound.

Solution

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