-In the above figure, if D2 is the original demand curve and the price of a substitute in consumption rises, which price and quantity might result?

Question

Quizplus · Accepted Answer

When the price of a substitute in consumption rises, consumers will tend to buy more of the good in question, shifting the demand curve to the right from D2 to D3, resulting in a higher equilibrium price (P3) and quantity (Q3) at point c.

-In the Above Figure, If D2 Is the Original Demand