which of the following is the best example of a pair of substitute goods? a- coffee...
which of the following is the best example of a pair of substitute goods?
a- coffee and cream
b-videotapes and VCRs
c-money and biscuits
d- tortillas and salsa
e- powdered and liquid laundry detergent
Homework Answers
Answer
Option e
powdered and liquid laundry detergent
Substitute goods are substituted for each other.
The increase in the price of powdered detergent will increase the demand for liquid detergent and vice verse.
-----------
a- coffee and cream
b-videotapes and VCRs
d- tortillas and salsa
these three are consumed together, so these are complement goods
-------
c-money and biscuits, it has no relationship in it, so it is not related.
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