Demand curves can be affected by the prices of related goods.

Question

Quizplus · Accepted Answer

The prices of related goods, such as substitutes or complements, can affect the demand for a particular product or service. For example, if the price of a substitute product increases, consumers may choose to switch to the original product, thereby increasing demand for it. Likewise, if the price of a complement product decreases, it may lead to an increase in demand for the original product.

Demand Curves Can Be Affected by the Prices of Related