हिंदी

With the help of a diagram, illustrate the effect of an increase in the price of the product shown in Image A on the demand for the product shown in Image B. - Economics

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प्रश्न

With the help of a diagram, illustrate the effect of an increase in the price of the product shown in Image A on the demand for the product shown in Image B.

आकृति
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उत्तर

An increase in the price of Car 1 (Image A) will lead to a rise in the demand for Car 2 (Image B), as they are substitute goods, causing the demand curve for Car 2 to shift to the right.

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