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Question
When does ‘decrease’ in demand take place?
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Solution 1
A decrease in the demand is caused by a change in the own price of the good but not other factors such as an increase in income, change in taste and preferences of the good. Diagrammatically, it is shown as a backward shift in the demand curve.
Solution 2
When there is decrease in demand due to a factor other than own price of the good or naming a factor like fall in price of substitute, etc.
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