Which of the following income-demand curves is related to inferior goods?
An inferior good has a negatively sloped income-demand curve. Its quantity demanded decreases as consumer income increases, with other determinants of demand held constant.
Choose your answer
Which of the following income-demand curves is related to inferior goods?
Answer and explanation
Correct answer C
An inferior good has a negatively sloped income-demand curve. Its quantity demanded decreases as consumer income increases, with other determinants of demand held constant.
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Telangana SET (TG SET)