Explain the effect of the change …
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Yogita Ingle 5 years, 11 months ago
(i) Change in price of substitute goods: There is positive or direct relationship between the price of substitute commodity and demand for a good. If price of substitute rises the demand for a commodity also rises and vice versa.
(ii) Change in price of complementary goods: There is negative or indirect relationship between the price of complementary commodity and demand for a good. If price of complement ary good rises the demand for a commodity also falls and vice versa.
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