[Solved] In question No. 286 if the price is increased to `11 per unit and the demand sharply falls to 20 unit, we can say that the goods are ……………..

Q.	In question No. 286 if the price is increased to `11 per unit and the demand sharply falls to 20 unit, we can say that the goods are ……………..
A.	Essential goods
B.	Luxury goods
C.	Inferior goods
D.	None of these
Answer» B. Luxury goods

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Fundamentals of Economics and Management

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