32 Florida Agricultural Experiment Stations

this influence upon the general demand function can be expressed
in percentage terms by resorting to the formulae of footnote 33.
 Perhaps a more meaningful interpretation of the impact of
"carry-over effect" could be achieved by relating demand changes
associated with price "age," say, to the first price "age." For
instance, weekly purchases of concentrate for the second week
following a price change were about 10.3 percent larger than for
newly established prices one week old. But for prices three
weeks old, purchases were only about 3.4 percent larger than
for prices one week of age. This phenomenon suggests that
consumers reacted to a new price situation by first under-adjust-
ing their purchases, then over-adjusting, but finally settling to-
ward some equilibrium, intermediate, purchase rate.