mameeraliok mameeraliok
  • 25-10-2020
  • Social Studies
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The relationship that exist between demand and price of its substitute goods

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sashanicole
sashanicole sashanicole
  • 25-10-2020

Answer:

For substitute goods, as the price of one good rises, the demand for the substitute good increases. For example, if the price of coffee increases, consumers may purchase less coffee and more tea. Conversely, the demand for a substitute good falls when the price of another good is decreased.

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