2) To establish the boundaries of relevant markets, the Authority shall use the hypothetical monopolist test approach, also known as, the SSNIP (small but significant non‐transitory increase in price) test and/or any other relevant market analysis tools. 3) Assessing demand‐side substitution between services that are close substitutes, requires assessing whether a significant number of buyers of one service would shift to buying another, after a small but significant non‐transitory increase on the relative price of one service. 4) Assessing supply‐side substitution requires assessing whether existing suppliers would be able to quickly switch from producing service X, to producing service Y, after a small but significant non‐transitory increase on the relative price of Y, where services X and Y are close substitutes from the buyer’s point of view. 5) When applying the SSNIP test, the Authority shall first assess demand‐side substitution to come up with a group of services as a candidate product market. Next, the Authority shall consider supply‐side substitution effects. 6) If a service has been included within a relevant product market as a result of evidence of demand‐side substitution, then evidence of supply‐side substitution towards this service is not necessary. 7) When assessing demand‐side substitution, the Authority shall consider: a) The ease by which consumers can switch service providers; b) The cost or burden, of switching service providers; c) The functionality and characteristics of the services from the point of view of the user experience; d) The buyer preferences for bundled services rather than standalone services; and e) Perceived difference in quality of service. 8) When analyzing supply‐side substitution, the Authority shall consider: a) How quickly existing another; or suppliers can switch from supplying one service to b) Whether they would need to undertake costly investment for new capacity, or to expand capacity, and whether this requires a lengthy corporate approval process; or c) Whether there are legal or regulatory impediments to quickly expanding capacity to produce a new service. 11. The Relevant Geographic Market 1) When defining geographic markets, the Authority shall assess the extent to which competitive conditions are appreciably different across geographic areas. 2) The network coverage area, or the license area may be considered by the Authority as the tentative relevant geographic market. However, if competitive conditions vary widely from one area to another, the Authority may consider a different geographic market. 7