Answered

Welcome to Westonci.ca, where your questions are met with accurate answers from a community of experts and enthusiasts. Find reliable answers to your questions from a wide community of knowledgeable experts on our user-friendly Q&A platform. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.

Suppose that good X is a substitute for good Y. Then an increase in the price of good Y leads to Multiple Choice a decrease in the demand of good X. an increase in the demand of good X. an increase in the supply of good X. a decrease in the supply of good X.

Sagot :

akposevictor

If X and Y are substitute goods, an increase in the price of good Y leads to: B. an increase in the demand of good X.

What are Substitute Goods?

Substitute goods are goods can be any two or more products that can be used by consumers to fulfil the same purpose or need.

Generally, when the price of one of the substitutes increases, consumers will go its close substitutes as an alternative.

Therefore, if X and Y are substitute goods, an increase in the price of good Y leads to: B. an increase in the demand of good X.

Learn more about substitute goods on:

https://brainly.com/question/2055005

We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Thank you for visiting Westonci.ca. Stay informed by coming back for more detailed answers.