The value of a product to its consumers tends to be reduced by availability of close substitutes.Similarly,the value if a product to its consumers is reduced by the availability of complements.

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The value of a product to its consumers tends to be reduced by the availability of close substitutes because substitutes offer alternative options that can fulfill the same need, leading to potential competition on price and features. However, the availability of complements typically increases the value of a product because complements are goods that are used together with the primary product, enhancing its utility and desirability.

The Value of a Product to Its Consumers Tends to Be