Economics : Micro 4
4th Edition
ISBN: 9781305436855
Author: MCEACHERN
Publisher: CENGAGE L
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Chapter 4, Problem 1.2PA
To determine
Categorize the goods as substitute, complementary and unrelated goods.
Concept Introduction:
Substitute goods are those goods which can be used in place of each other. Increase in the price of one good implies the increase in the
Complement goods are those which can only be used together. We can’t use one good at a time. Increase in the price of one good implies the decrease in the demand of other good and vice-versa.
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