The demand for a resource will shift left if the price of a substitute resource decreases.

Name: The demand for a resource will shift left if the price of a substitute resource decreases.
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Question

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If the price of a substitute resource decreases, consumers are more likely to switch to the cheaper substitute, reducing the demand for the original resource, hence the demand curve for the original resource shifts to the left.

The Demand for a Resource Will Shift Left If the Price