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When income increases ,demand of inferior goods also increases ( true/false)?
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When income increases ,demand of inferior goods also increases ( true/...
𝑇𝑟𝑢𝑒 , 𝑖𝑡 𝑖𝑠 𝑏𝑒𝑐𝑎𝑢𝑠𝑒 𝑖𝑛𝑓𝑒𝑟𝑖𝑜𝑟 𝑎𝑟𝑒 𝑡ℎ𝑜𝑠𝑒 𝑔𝑜𝑜𝑑𝑠 𝑤ℎ𝑖𝑐ℎ 𝑑𝑒𝑚𝑎𝑛𝑑 𝑖𝑛𝑐𝑟𝑒𝑎𝑠𝑒𝑠 𝑤𝑖𝑡ℎ 𝑖𝑛𝑐𝑟𝑒𝑎𝑠𝑒 𝑖𝑛 𝑡ℎ𝑒 𝑖𝑛𝑐𝑜𝑚𝑒 𝑜𝑓 𝑐𝑜𝑛𝑠𝑢𝑚𝑒𝑟 𝑎𝑛𝑑 𝑤ℎ𝑖𝑐ℎ 𝑑𝑒𝑚𝑎𝑛𝑑 𝑑𝑒𝑐𝑟𝑒𝑎𝑠𝑒𝑠 𝑤𝑖𝑡ℎ 𝑑𝑒𝑐𝑟𝑒𝑎𝑠𝑒 𝑖𝑛 𝑡ℎ𝑒 𝑖𝑛𝑐𝑜𝑚𝑒 𝑜𝑓 𝑐𝑜𝑛𝑠𝑢𝑚𝑒𝑟 .𝑠𝑜 , 𝑡ℎ𝑒𝑟𝑒 𝑖𝑠 𝑎 𝑝𝑜𝑠𝑖𝑡𝑖𝑣𝑒 𝑟𝑒𝑙𝑎𝑡𝑖𝑜𝑛 𝑏𝑒𝑡𝑤𝑒𝑒𝑛 𝑖𝑛𝑐𝑜𝑚𝑒 𝑜𝑓 𝑡ℎ𝑒 𝑐𝑜𝑛𝑠𝑢𝑚𝑒𝑟 𝑎𝑛𝑑 𝑝𝑟𝑖𝑐𝑒 𝑜𝑓 𝑎 𝑐𝑜𝑚𝑚𝑜𝑑𝑖𝑡𝑦.
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When income increases ,demand of inferior goods also increases ( true/false)?
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