How does change in the prices of related commodities affect the supply of a good.? Plzzz answer fast
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Supply of good depends upon the price of related goods.Consider a firm selling tea.If price of coffee rises in the market, the firm will be willing to sell less tea at it existing price.The same quantity of tea will be sold only at a higher price .
Supply of good depends upon the price of related goods.Consider a firm selling tea.If price of coffee rises in the market, the firm will be willing to sell less tea at it existing price.The same quantity of tea will be sold only at a higher price .
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The price of related goods is one of the other factors affecting demand. a. Related goodsare classified as either substitutes or complements
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