Maria purchases a premium brand of coffee at the grocery store for 8$. which would be considered a substitute good?

Answer

A lower-priced brand of coffee

Explanation

Substitute goods are those that have a positive cross elasticity of demand. This is to mean that the demand of that good increases when the price of another good is increased, both in the same direction. The demand of such a good will decrease when the price of another good is decreased. In this case, a consumer replaces one good with the other. A good example of substitute goods is margarine and butter.

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