50. What is an Engels curve?
(a) Another name of demand curve
(b) Curve showing both demand & supply curves
(c) Curve named after Lord Engels
(d) All
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Answer:
The Engle curved. name after the German statiscation Ernst engle
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Explanation:
an Engel curve describes how household expenditure on a particular good or service varies with household income. There are two varieties of Engel curves. Budget share Engel curves describe how the proportion of household income spent on a good varies with income.
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