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Increase in price of substitute goods leads to ______ -

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Question

Increase in price of substitute goods leads to ______

Options

  • Expansion in demand

  • Increase in demand

  • Decrease in demand

  • Contraction in demand

MCQ
Fill in the Blanks

Solution

Increase in price of substitute goods leads to Increase in demand.

Explanation:

As the price of a substitute rises, so does demand, resulting in a rightward shift in the demand curve.

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