explain the concept of price related goods in detail
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Explanation:
The price of related goods is one of the other factors affecting demand. a. Related goods are classified as either substitutes or complements. ... 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.
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Answer:
The price of related goods is one of the other factors affecting demand. a. Related goods are classified as either substitutes or complements. ... 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.
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