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Today General Knowledge(GK)
In the case of an inferior good, the income effect
A)
Is equal to the substitution effect
B)
Partially offsets the substitution effect
C)
Reinforces the substitution effect
D)
More than offsets the substitution effect

Correct Answer : Option (B) - Partially offsets the substitution effect


Published On : May 18, 2021
Category : Business and Economics
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