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Question
If with the rise in price of good Y, demand for good X rises, the two goods are:
If with the rise in price of good Y, demand for good X rises, the two goods are:
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Solution
The correct option is A Substitutes
As the price of a good increases, more people will opt for a substitute and the demand for substitute increases. Demand for compliments, meanwhile decrease.
Substitutes
As the price of a good increases, more people will opt for a substitute and the demand for substitute increases. Demand for compliments, meanwhile decrease.
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