Business Studies, asked by DollyMahanta, 3 months ago

What will be the shape of Income consumption curve (ICC): Case A: X is an
inferior good, Y is superior good​

Answers

Answered by Hibaahsan87
0

Answer:

If income effect for good X is negative, income consumption curve will slope backward to the left as ICC in fig 8.31. If good Y happens to be an inferior good and income consumption curve will bend towards X-axis as shown by ICC”

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