An increase in the price of one good can cause the demand for another good to increase if the goods are substitutes.

Name: An increase in the price of one good can cause the demand for another good to increase if the goods are substitutes.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

If two goods are substitutes, consumers can switch from one good to another if the price of one increases. This would lead to an increase in the demand for the other good.

An Increase in the Price of One Good Can Cause