Question

"If the price of chocolate-covered peanuts increases and the demand for strawberry licorice twists increases, this indicates that these two goods are:"_________.

Answer 1

Answer:

Substitute goods

Explanation:

A subsituite good is a good that consumers consider similar and can be used or demanded in place of another good. If the price of a good with a substitute increases, the demand for that good decreases and consumers shift to the consumption of the subsituite . The demand for the subsituite increases.

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