Q1366
Which of the following statement is true?
A.
In inferior goods, the income and substitution effects are negative
B.
In inferior goods, the income and substitution effects are positive
C.
In case of inferior goods, the income effect is negative although the substitution effect is positive
AnswerD.
In case of inferior goods, the income effect is positive although the substitution effect is negative
Answer: Option C
Solution
Answer: Option C
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