while shopping, lisa buys powdered milk since her favorite brand of organic milk is out of stock. she also buys a torch for her trekking trip and a pair of batteries for the torch. while waiting at the payment counter, she notices the colorful lollipops displayed at the counter. she purchases the lollipop even though she did not plan on buying one before entering the store. when considering all of lisa's purchases, which one is an example of a substitute product?

A product that fulfills the same function as another one on the market is referred to as a substitute. A consumer can desire less of the other product if they have access to more of one commodity. There is a bad link between demand for alternatives and supply. This means that using one product eliminates or lessens the need for the other.
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.
Two products are said to be interchangeable if a client can purchase either one in its place, whereas complimentary products are those that are frequently purchased together.

Thus the example of substitute product in this is powdered milk.

To learn more about substitute product, refer: https://brainly.com/question/18849357

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