Q511
Good 'Y' is the substitute for good 'X' if 1. A fall in the price of good X leads to the fall in the marginal utility of good Y. 2. A fall in the price of good X leads to the fall in the quantity purchased of good Y. Select the correct answer
A.
Only 1
B.
Only 2
C.
Both 1 and 2
AnswerD.
Neither 1 nor 2
Answer: Option C
Solution
Answer: Option C
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