Answered: Which of the following pair of goods…

Which of the following pair of goods are Substitute goods:- (A) Bread and butter (B) Tea and sugar (C) Pen and ink (D) None of the above

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Which of the following pair of goods are Substitute goods:-

(A) Bread and butter

(B) Tea and sugar

(D) None of the above

Expert Solution

Conceptual knowledge

# substitute goods are those goods which have common uses and can be used on place of each other. Such goods have similar characteristics and features and that is why if one product is unavailable ,its substitute can be used

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