Do passengers remember low prices?

I just encountered a couple of previously very profitable city pairs where I have no (current) competition but Y demand has crashed at the default price, F & C demand is unaffected.

That got me wondering: did a competitor fly that route at crazy low prices and has now withdrawn? If so, has it affected the demand/price model?

Hit the reset button
 

Hit the reset button
 

I did. There was no change in demand/price.