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Question
Give two reasons for the shift of the demand curve towards the left.
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Solution
The demand curve may shift towards the left due to the following reasons:
- Fall in consumer's income.
- Fall in the price of a substitute for the good.
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| Case I | Case II | ||
| Price (₹) | Quantity | Price (₹) | Quantity |
| 10 | 20 | 10 | 20 |
| 10 | 10 | 5 | 20 |
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