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Today General Knowledge(GK)
Which of the following statement is true
A)
In inferior goods, the income and substitution effects are positive
B)
In interior goods, the income and substitution effects are negative
C)
In case of inferior good, the income effect is negative, although the substitution effect is positive
D)
In case of inferior goods, the income effect is positive although the substitution effect is negative

Correct Answer : Option (C) - In case of inferior good, the income effect is negative, although the substitution effect is positive


Published On : May 21, 2021
Category : Business and Economics
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