Two goods are substitutes if:

Name: Two goods are substitutes if:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Substitutes are goods that can be used in place of each other. In other words, they serve a similar function or purpose. When the price of one substitute increases, consumers will be more likely to switch to the other substitute, leading to an increase in demand for the other substitute. Therefore, B is the correct answer. A is the opposite of the correct answer, and C and D are not relevant to the definition of substitutes.

Two Goods Are Substitutes If