00:01
Hello, let's look to these six possible answers.
00:08
Let's go over them one by one.
00:12
So it is correct to say that when the...
00:16
Something is happening with the price of good x, the demand curve for good x shift to the left.
00:23
And actually it's not correct.
00:25
So here we have six situations.
00:32
So if the price is changing, demand curve does not shift.
00:40
So there is no shift to the left because of the change in the price.
00:45
So here we don't have answer.
00:47
And actually it's incorrect to say that the demand curve shift to the left or to the right because of the change in the price.
00:58
So this one is not.
01:03
Correct so now let's look to the second if there is something with the price of a good which is complementary to good x and the demand for good x shift to the left demand shifted to the left this means that demand decreased and demand decreased when people start to consume less of good because they are sorry they are good they can start consuming less of the good which is complementary to good x it might be good why let's denote this so this means that the price of good complementary to good x increased so increase of the price of the price which is complementary to good x people will start consuming less of good, of this complementary good, and then they will also reduce consumption of good x, because these two goods are complementary.
02:19
Okay, the next, the third part, what will happen with the pride of substitute goods and the demand curve for good x shift.
02:33
Shift to the left...