What is close subsitute of a product?

Anonymous

∙ 15y ago

Updated: 8/18/2019

A close substitute of a product is one which can easily replace it - eg margarine is a close substitute of butter. Two products are substitutes if they have a positive cross-elasticity - as the price of one increases, the quantity of the other increases

Wiki User

∙ 15y ago

What else can I help you with?

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