Consumers' ability to substitute among different goods explains

Name: Consumers' ability to substitute among different goods explains
Brand: Quizplus
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Question

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The law of demand states that as the price of a good increases, the quantity demanded of that good decreases, and vice versa. One reason for this inverse relationship is consumers' ability to substitute among different goods. If the price of one good increases, consumers may choose to buy a substitute good instead, leading to a decrease in demand for the original good.

Consumers' Ability to Substitute Among Different Goods Explains