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प्रश्न
In the following Question, read the statements and choose the correct alternative among those given below:
Statement 1: Substitute goods have competitive demand.
Statement 2: Change in the price of substitutes directly affects the demand for a given commodity.
विकल्प
Both the Statements are true.
Both the Statements are false.
Statement 1 is true and Statement 2 is false.
Statement 2 is true and Statement 1 is false.
MCQ
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उत्तर
Both the Statements are true.
Explanation:
Substitute goods compete to satisfy the same want, so a change in the price of one substitute affects demand for the other.
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