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What are differences between SUBSTITUTE & COMPLEMENTARY GOODS? | Substitute vs. Complementary Goods.
Substitute Goods Coke and Pepsi, iPhone and Galaxy S series, Nike and Adidas are a few examples of substitute goods. If price of Coke increases, demand for Pepsi should increase because many Coke consumers will switch over to Pepsi. Similarly, prices of iPhone and Galaxy S affect their mutual demand. Given that there are many fanboys who will ...
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