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10 September, 07:27

when it comes to substitute goods, if the price of Sprite increases, what will happen with the demand for a substitute good like 7-up

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  1. 10 September, 07:43
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    If the price of Sprite increases, the demand for a substitute good like 7-up will increase too, because people will seek for a substitute product to replace Sprite.

    Law of demand explains the higher the price of a good, the less people will demand it (or avoid it), and will seek others to replace it.
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