If the prices of substitute goods decrease,the demand curve will shift to the _____ and the price will _____.

Question

Quizplus · Accepted Answer

When the prices of substitute goods decrease, consumers are more likely to purchase those substitutes instead of the original good, leading to a decrease in demand for the original good. This causes the demand curve to shift to the left, and as a result, the price of the original good will also fall due to decreased demand.

If the Prices of Substitute Goods Decrease,the Demand Curve Will