Question

if people demand more netflix subscriptions when the price of hulu subscriptions falls, then netflix and hulu are:

Answer 1

Netflix and Hulu are substitutes if more individuals desire Netflix memberships as the cost of Hulu subscriptions decreases.

In microeconomics, two things are considered substitutes if customers may use them for the same purpose. Having more of one thing makes a buyer want less of the other good because they regard both goods as similar or equivalent.

Contrary to independent and complementary products, substitute goods may displace one another in usage as a result of shifting economic conditions. Coca-Cola and Pepsi are two examples of substitute commodities; they may be used interchangeably because they both meet the same need, which is the demand of customers for a soft drink. These replacements are referred to as "near substitutes."

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