When an individual’s income rises, when everything else remains the same, his demand for normal goods:

Related MCQs

• When individuals income rises (everything remain the same) his demand for a normal good
• When an individual’s income falls, when everything else remains the same, his demand for inferior goods:
• When individuals income falls (everything remain the same) his demand for a normal good
• When individuals income falls (everything remain the same) his demand for an inferior good
• A fall in the price of the commodity holding everything else constant results in:
• When both the price of a substitute and the price of complement of X rises, the demand for X:
• When disposable income rises from Rs 500 to Rs 600 and consumption expenditure changes from Rs 470 to Rs 560, MPC will be equal to
• Commodities bought in larger quantities when income rises are called:
• A negative income elasticity of demand for a commodity indicates that as income falls, the amount of the commodity purchased:
• Income elasticity of demand for inferior goods is: