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Products whose demand rises when another product’s price increases are called complementary goods. substitute goods. elastic goods. clearance goods. provides consumers with additional income (select all that apply)

Karen Wright

in Business

1 answer

1 answer

Ralph Lopez on May 21, 2018

The correct option is a SUBSTITUTE of the GOOD.Substitute goods are goods that can be substituted for each other. If the price of a substitute good increases the demand for the other substitute good will increase. For example, for two goods a and B are substitute, if the price of One increases, consumers are going to abandon it and start buying more of B, whose price is inferior, therefore, the demand for B will increase.

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