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How will increase in the price of a substitute good shift the demand curve?
An increase in the price of a substitute good will increase demand for the original good, thus shifting the demand curve to the right.
How do substitute goods and complementary goods affect demand for another good?
Substitutes and complements is the fact that a change in price of one of the goods has an impact on the demand for the other good. For substitutes, an increase in the price of one of the goods will increase demand for the substitute good. (It's probably not surprising that an increase in the price of Coke would increase the demand for Pepsi as some consumers switch over from Coke to Pepsi.) It's also the case that a decrease in the price of one of the goods will decrease demand for the substitute good.
What would happen to 9 the demand curve for crayons if there was an increase in the price of markers?
The quantity demanded would increase at all prices due to it being a cheaper substitute for markers
What is the effect of pressure and concentration on Kc and Kp values?
Kc is the equilibrium constant of a chemical reaction related to concentrations. Kp is the equilibrium constant of a chemical reaction related to pressures. Generally, in normal conditions the effect of temperature is not so important.
What are careers involving percents?
someone involved with stocks or banking (interest rates, increase/decrease in stock market)
Why does your pulse speed up after you eat D oes your pulse increase after you eat?
after you eat, food need to be metabolised. so it need more oxygen for the tissue which under taken this task. to counteract with the increased demand of oxygen its our body's one of automatic mechanisms. that to increase the pulse and increase the blood circulation
grants to increase capacity of a childcare center ?
grants available to increase the capacity of a childcare center"
If the tea harvest is bad in a particular year what will happen in the market for coffee Substitute for tea?
Increase price and decreased quantity
What signs are the cross elasticities for substitute products?
Cross elasticity of demand for substitute products is positive. This means that if the price of one product increases, the demand for its substitute tends to increase as well, indicating that consumers will switch to the alternative. Conversely, if the price of the substitute decreases, the demand for the original product may decrease. This positive relationship highlights the competitive nature of substitutes in the market.
What is the difference between substitute goods and complementary goods in terms of their impact on consumer demand and purchasing behavior?
Substitute goods are products that can be used in place of each other, while complementary goods are products that are used together. Substitute goods have a negative relationship in demand, meaning an increase in the price of one will lead to an increase in demand for the other. Complementary goods have a positive relationship in demand, meaning an increase in the price of one will lead to a decrease in demand for the other. This impacts consumer purchasing behavior as they may switch between substitute goods based on price changes, while they may buy complementary goods together.
Why demand for soft drink as a whole inelastic but demand for Coca Cola is elastic?
the demand for cold drink as whole is inelastic bcoz the price wont have much effect on its demandbt price for coca cola is elastic because if pric of coca cola will increase then its substitute pepsi is available
What is substitute therapy in Ayurveda for surgery of replacement of heart valve?
only long term ayurvedic therapy can increase the life span
