Question

Q1: (a) Assume a consumer A consumes two commodities namely Z and Y. Explain the
substitution effect and income effect if price of Z commodity decreases for the following cases
If Z is an inferior good.
If Z is a normal good.
If Z is a giffen good.
Differentiate between a giffen and an inferior good using the above cases?​

Answer 1

Answer:

good" (and any subsequent words) was ignored because we limit queries to 32 words.