What will be the reaction of consumers in a market if there is a fall in the price of the substitute commodity X?

By: |Published on: Mar 28|Categories: Economics WAEC| 0 comments

A. Price of commodity X will increase
B. Demand for the substitute of commodity X will decrease
C. Demand for commodity X will decrease
D. Supply of both commodity X and its substitute will increase.

Correct Answer:

Option C = Demand for commodity X will decrease

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