2.Explain the different types of shift of demand curve.
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A shift in the demand curve occurs when the whole demand curve moves to the right or left. For example, an increase in income would mean people can afford to buy more widgets even at the same price. The demand curve could shift to the right for the following reasons: ... The price of a substitute good increased.
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Explanation:
A shift in the demand curve occurs when the whole demand curve moves to the right or left. For example, an increase in income would mean people can afford to buy more widgets even at the same price. Thedemand curve could shift to the right for the following reasons: ... The price of a substitute good increased.
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