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प्रश्न
If the income of a consumer increases, discuss briefly its likely impact on the demand for a inferior good, Good X.
उत्तर
Inferior goods are those which are low in quality. The demand for such goods share a negative relationship with the income such that the demand for inferior goods will decrease as the income increases and vice-versa. This is because with an increase in income, the consumers will now shift to better quality goods. So, the demand for inferior goods will decrease with an increase in income.
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संबंधित प्रश्न
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