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If the price of a substitute good increases, what happens to the demand for the
Practice Questions
Q1
If the price of a substitute good increases, what happens to the demand for the original good?
Demand decreases
Demand increases
Demand remains unchanged
Demand becomes elastic
Questions & Step-by-Step Solutions
If the price of a substitute good increases, what happens to the demand for the original good?
Steps
Concepts
Substitute Goods
– Substitute goods are products that can replace each other; when the price of one increases, consumers may switch to the other.
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