Banana plantains in some parts of the country have been damaged due to a very a typical pest attack. For those who consider banana and apple as substitute goods, what will happen to the demand for apple? Explain with the help of a diagram.
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The banana weevil is the most important insect pest of banana and plantain. Its host range is restricted to wild and cultivated clones of Musa (banana, plantain, abaca) and Ensete. The insect originated in southeast Asia and has spread to all important banana and plantain growing areas.
Explanation:
Apples and bananas are both normal goods.b.The own-price elasticity of demand for apples is greater than 1, and the own-price elasticity of demand for bananas is also greater than 1.c.The cross-price elasticity of demand for apples with respect to the price of bananas is greater than zero.
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