Explain how demand for a given good is affected by change in prices of substitute good
Answers
Answered by
0
Answer:
a. Related goods are classified as either substitutes or complements.
1. Substitutes are goods that satisfy a similar need or desire.
a. An increase in the price of a good will increase demand for its substitute, while a decrease in the price of a good will decrease demand for its substitute
Explanation:
please mark my ans as brainliest please
Answered by
0
Explanation:
Related goods are classified as either substitutes or complements.
Substitutes are goods that satisfy a similar need or desire.
an increase in the price of a good will increase demand for its substitutes, while a decreases the price of a good will decrease for its substitutes.
Similar questions