Price of Related Products and Demand
Watch this video about the price of related products and how the demand curve for a product gets affected. Examples of related products are those that can substitute for each other like oranges and apples. If the price of apples increases and the price of oranges remains the same, then consumers are more likely to buy less apples and more oranges.
Source: Khan Academy
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Last modified: Thursday, February 25, 2021, 10:50 AM