Goods are substitutes when an increase in price of one leads to _____ of other commodity.
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4 marks, −1MicroeconomicsDemand theory and elasticityCross-price elasticity, substitutes and complementsEasyabout 1 min
CUET-PG 2026 Question 3: Demand theory and elasticity
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Demand theory and elasticity has come up 161 times in 7 exams since 2004.
What this question tests
This question is on Cross-price elasticity, substitutes and complements, part of Demand theory and elasticity in Microeconomics.
How the demand for one good responds to the price of another.
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Question from the CUET-PG 2026 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.