An increase in the price of product B leads to an increase in the demand for product C. This indicates that products B and C are

Name: An increase in the price of product B leads to an increase in the demand for product C. This indicates that products B and C are
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When the price of product B increases, consumers will look for substitute goods, and in this case, product C is the substitute. Therefore, products B and C are substitute goods.

An Increase in the Price of Product B Leads to an Increase