How is demand of a commodity affected by a fall in prices of related goods?
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Related good can be of two types-
COMPLIMENT GOODS- These are those goods which are used together. E.g. Car and petrol.
SUBSTITUTE GOODS- These are goods which are used in place of other goods. E.g. Tea coffee.
hope helps ☺️☺️☺️☺️
COMPLIMENT GOODS- These are those goods which are used together. E.g. Car and petrol.
SUBSTITUTE GOODS- These are goods which are used in place of other goods. E.g. Tea coffee.
hope helps ☺️☺️☺️☺️
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