Explain the chain effects of the commodity X in the market provided there is a substitute good Y and the price of same falls.

Dear Student

When price for Good Y falls it would lead to increase in demand of good Y and demand of good X will fall. Demand curve for Good X will shift leftwards.
There would be competition among sellers to sell their good X. They would be ready to sell the commodity at lower price. It would lead to a situation of excess supply. It would lead to decrease in supply due to law of supply and increase in demand due to law of demand till equilibrium is attained.

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Regards