If two commodities are substitutes, then an increase in the price of one of them will increase the demand for the other.
Question
Solution 1
Yes, that's correct. If two commodities are substitutes, an increase in the price of one will lead to an increase in the demand for the other. Here's a step-by-step explanation:
- Substitutes are goods that can be used in place of each other. For example, tea and coffee are substitutes. If the pri Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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