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Figure 2.5 C
-Which of the following is depicted in the accompanying figure?
Inferior Goods
Products whose demand decreases as the income of the consumer increases, contrasting with normal goods.
Substitute Goods
Products or services that can be used in place of one another, satisfying similar needs or desires.
Complementary Goods
are products or services that are used together, where the use or consumption of one increases the demand for the other.
Close-Substitute
A good or service that can easily replace another in satisfying consumer needs, with very little change in consumption patterns.
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