Question

X,Y are two goods when the price of x rises the demand for the Y good increases .how do you think the two goods are related .give reason .draw deman schedule and diagram​

Answer 1

Answer:

Substitute Goods

Explanation:

Substitutue goods are those goods which can be used in place of each other. The most popular example of substitute goods is coke and pepsi.

If the price of coke rises, the demand for pepsi will increase and vice-versa. This means that a positive relation exists between own price of commodity and demand for substitute goods.

The schedule and graphical representation for the given condition is added in the attachment.