Suppose you have 2 goods, X and Y. If the price of X increases and you buy more Y, then X and Y are:

Name: Suppose you have 2 goods, X and Y. If the price of X increases and you buy more Y, then X and Y are:
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Question

Quizplus · Accepted Answer

When the price of good X increases and you buy more of good Y, it indicates that X and Y are substitutes. This is because the increase in the price of X makes it less attractive, leading you to purchase more of the alternative good Y.

Suppose You Have 2 Goods, X and Y