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Answer to Question #268059 in Microeconomics for siva
Question #268059
If the price of one of the goods rises by 5 per cent, what will happen to the demand for the other good, holding other factors constant?
Expert's answer
If the price of one of the two goods increases by 5 per cent, it will be substituted by the other good so that the quantity demanded of this other good will increase.
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