Question

What are substitute goods? Explain how the demand for a good is affected by change in price of substitute good.
(Only answer it,if you have a correct answer.)​

Answer 1

Answer:

In microeconomics, a substitute good is a good that can be used in place of another. In consumer theory, substitute goods or substitutes are goods that a consumer perceives as similar or comparable, so that having more of one good causes the consumer to desire less of the other goods....

Explanation:

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