Economy, asked by a1k2a3n4s5h6, 3 months ago

Explain the effect of fall in prices of other goods on the demand of a given good​

Answers

Answered by iqbalshaikh56
1

Explanation:

When price of a substitute good rises, the given good becomes relatively cheaper. As a result, its demand rises. Opposite happens when price of the substitute good falls. ... Demand for the given commodity is also affected by change in price of the related goods.

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