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प्रश्न
True or False with Reasons:
If the goods X and Y are substitutes, a rise in price of X will result in a rightward shift in demand curve of Y.
चूक किंवा बरोबर
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उत्तर
This statement is true.
Reason:
- A rise in the price of X makes substitute Y relatively more attractive to consumers.
- Demand for Y increases at each of its own prices, shifting its demand curve to the right.
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