Question:
What do you understand by substitute goods and complementary goods?
What do you understand by substitute goods and complementary goods?
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Substitute goods can replace each other, while complementary goods are used together.
Updated On: Nov 5, 2025
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Solution and Explanation
- Substitute Goods: Goods that can replace each other, such as tea and coffee.
- Complementary Goods: Goods that are used together, such as printers and ink cartridges.
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