Tropicana is considering raising the price of its 59-ounce container of fresh orange juice by $0.50. Give

Question:

Tropicana is considering raising the price of its 59-ounce container of fresh orange juice by $0.50. Give and justify your view of the competitive stance that Minute Maid orange juice would be likely to take. What would be the implication of this stance for the price-change response that Tropicana could expect?