C H A P T E R 3: Demand, Supply, and Market Equilibrium © 2004 Prentice Hall Business PublishingPrinciples of Economics, 7/eKarl Case, Ray Fair 22 of 48 Other Determinants of Household Demand Substitutes are goods that can serve as replacements for one another; when the price of one increases, demand for the other goes up.
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