The conversation between human and AI assistant.
What is the demand curves? What causes shifts in this?
Could you give me an example of how a change in price of a related good could shift the demand curve?
Sure, if the price of a substitute good (a product that can be used in place of another) decreases, consumers are more likely to buy the substitute instead, causing a decrease in demand for the original product and a shift of the demand curve to the left. But if the price of a complementary good (a product that is used together with another) decreases, it may increase demand for both products, causing a shift to the right in the demand curve.