Question

Q21
COLUMN1
A. Normal goods
B. Inferior goods
C. Giffen goods
COLUMN 2
1) Positive price effect
2) Positive Income effect
3) Negative Income effect​

Answer 1

Answer:

A. Normal goods have positive income effect and positive price effect

B. Inferior goods have negative income effect and positive price effect

C. Giffen goods have negative income effect

Explanation:

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