goods x and Y are substitutes. explain the effect of fall in price of Y on demand for x
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Explanation:
first we will take an example for substitute goods. coffee☕ and tea are substitute goods. If the price of coffee rises and no change in the price of tea then the demand for tea rises⬆️and demand for coffee falls⬇️. If price of tea rises and no change in the price of coffee then the demand for coffee will rise.
hope u have understood the concept of substitute goods with the given example.
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